Total expenses rose by 1% YoY to Rs 91.47 crore in the second quarter due to higher employee expenses (up 19% YoY), higher other expenses (up 7% YoY) and higher depreciation charge (up 22% YoY).
Profit before tax in Q2 FY24 stood at Rs 1.24 crore, down by 72% from Rs 4.38 crore in Q2 FY23.
TVS Electronics has traditionally been an IT peripheral manufacturer. The company is currently a transaction automation IT product manufacturer and service provider.
