TVS Electronics has recently reported a standalone net growth of 95 percent in standalone net profit during the fourth quarter ended March 31st 2011 at Rs. 1.36 crore as against Rs. 28 lakh posted during the same period last fiscal.
As per the stats filed with National Stock Exchange, the annual net profits amounted to Rs.1.54 crore for 2010-11 as against a net loss of Rs. 3.43 crore reported during the corresponding period previous fiscal.
On the income side, TVS Electronics has registered a marginal decline in their total income from Rs. 51.32 crore in the last quarter of FY10 to Rs. 48.11 crore in the same quarter in FY11. The total income on a yearly basis also dipped to Rs. 183.01 crore for the year ending March 2011 from Rs. 194.47 crore in the previous fiscal.
A clear reason that can be drawn by the skeptics for this quarterly growth is the steep fall in total expenditure which has been registered at Rs. 4.65 crore for the quarter ended March 31 2011 as against Rs. 4.96 crore during the same tenure last fiscal. There has also been a major downturn in the interests for the fourth quarter, which amounts to less than Rs.1 crore in comparison to Rs.1.65 crore witnessed in Q4 FY10.
Following the declaration of their final quarter results for FY 2010-11, the company also held a Board Meeting last week to elect Mr. Balu Doraisamy as the Independent Director of the company.