TVS-E Q1 revenue declines 14 percent

Chennai based TVS Electronics (TVSE) has repor-ted a decline of about 14
percent in its Q1 revenue which stood at Rs 58.21 crore for the quarter ended
March 31, 2004 as against revenue of Rs 67.71 crore in the corresponding quarter
of last year. The profit after tax during the quarter stood at Rs134 lakh
against Rs 122 lakh in the corres-ponding quarter last year.

Announcing the Q1 results, Gopal Srinivasan, Director, TVSE said, "With
PC Shipments ex-pected to register good growth to over four million this year,
we deliberately focused on Printers Business, which resulted in achieving the
highest ever market share. This focus would also help preparing the company to
be ready to operate in a Zero Duty environment in the near future".

He added, "The expected surge in set top box man-ufacturing is getting
pushed further, delaying revenue reali-zation for contract manufac-turing. We
are continuing to target global clients for contract manufac-turing
opportunities. Revenue generation from EMS business generally requires a longer
lead time".

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