TVSE declares 7.5 per cent dividend

Chennai: Dot matrix printer major TVS Electronics Limited has closed financial year 2006-07 with a turnover of Rs277.1 crore and a net profit of Rs1.9 crore as against the previous year''s figures of Rs265.7 crore and Rs1.2 crore respectively. The board has recommended a dividend of 7.5 per cent.

During the year under review the company had sold its contract manufacturing service business at Tumkur; Karnataka to Incap Contract Manufacturing Services Pvt. Ltd., a subsidiary of Incap Corporation, a Finland based company. According to director Gopal Srinivasan, the focus will now be on introducing new products. The company is planning to set up a manufacturing facility in Uttaranchal.