TVS Electronics net slips by 2.8%

BS 200 SCORECARD

TVS Electronics posted net loss of 2.8 per cent at Rs 67.95 during the quarter ended June 30, 2005 as against a net profit in the corresponding quarter in the previous year.

The company reported a net loss of Rs 0.79 crore during the period under review as compared to a net profit of Rs 1.47 crore in the first quarter ended June 30, 2004. The company's net sales during the period declined by 26 per cent to Rs 52.09 crore as compared with Rs 70.42 crore of the corresponding quarter last year.

TVS Electronics, which makes computer peripherals had recently expanded its product portfolio with the introduction of recycled laser toners.

Earlier, TVS tied up with a Korean company, Handan, for the technology and invested Rs 8 crore to create a 2,000-per day capacity set-top-box (STB) business.