IT peripherals manufacturer TVS Electronics has reported a 95% increase in its standalone net profits for the fourth quarter ending March 31, 2011.
The Chennai-headquartered company has reported standalone net profits at Rs 1.36 crore for the fourth quarter ending March 31, 2011 up by 95.1% from Rs 28 lakh reported in the same period of previous year, the company said in a filing to the National Stock Exchange.
For the year ending March 31, 2011 the standalone net profits of the company stood at Rs 1.54 crore as against a net loss of Rs 3.43 crore reported in the same period of previous year, it said.
The standalone total income of the company for the fourth quarter ending March 31, 2011 dipped to Rs 48.11 crore from Rs 51.32 crore reported during the same period of previous year.
The standalone total income of the company for the year ending March 31, 2011 also dipped to Rs 183.01 crore from Rs 194.47 crore registered during the same period of previous year.
The company also said the Directors do not recommend any dividend for the year ending March 31, 2011 due to the financial position of the company.