Electronics Production | January 10, 2008
TVS reports lower revenue<br>due to outsourcing to Incap
TVS Electronics has announced the results for the quarter ended 31st December 2007. The company has reported revenue of Rs.51.89 Crs for this period compared to Rs.76.49 in the corresponding quarter in 2006.
According to the company the results are not comparable due to transfer of the contract manufacturing business to Finland based EMS provider Incap. During last year TVS Electronics also transferred services business to a separate company. The PBT was Rs.0.85 Crs in this period, as compared to Rs.2.01 Crs reported during the corresponding quarter of the last year. The PAT at Rs.5.05 Crs (post extraordinary items of Rs.5.73 Crs) was higher compared to Rs.1.74Crs during the corresponding quarter of the last year. While maintaining its position in DMPs in India, TVS-E is expanding the offerings into full range transaction products and solutions, focused on the fast growing Indian retail market. Towards this, an in-house developed bill printer Jus'Bill was launched this quarter in a few markets targeting the small retailers and the response from the market has been extremely good.