TVS Electronics Q4 profit ramps up by 95 percent

Chennai: IT peripherals manufacturer TVS Electronics has reported a 95 percent increase in its standalone net profit for the fourth quarter ending March 31, 2011. The Chennai-headquartered company has reported standalone net profit of Rs. 1.36 crore for the fourth quarter ending March 31, 2011, up by 95.1 percent 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 profit 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 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.