TBZ posts Rs 7 crore profit in Q4, plans pan India expansion

By

Maverick Martins

Published
May 3, 2018

Indian jeweller Tribhovandas Bhimji Zaveri (TBZ) managed to reduce its operational costs resulting in profits of Rs 7 crore (approx $ 1.1) million) during the fourth quarter ending March 31. The company had posted losses of Rs 4 lakh during the same period last year.
 

The company’s revenue also witnessed a 14 percent rise during the quarter at Rs 437 crore (approx $ 65.6 million) as compared to Rs 384 crore (approx $ 57.8 million) in the same period in the previous year. The company attributed the revenue growth to strong sales during the wedding season.
 
The company's net profit for the year ending March 31 rose 26 percent to Rs 21 crore (approx $ 3.2 million) compared to Rs 17 crore (approx $ 2.6 million) in 2016-17 while its total grew by 4 percent to Rs 1763 crore (approx $ 264.5 million) in FY18, compared to Rs 1,702 crore (approx $ 255.4 million) in the same period last year.

TBZ is planning to expand aggressively during the current financial year by opening company owned and franchise stores across the country.
 
"The fourth quarter displayed healthy revenue growth with the ongoing wedding season. Our operational profitability and cash flows improved in line with the revenues whilst we maintained strict control on operating costs," TBZ Chairman and managing director Shrikant Zaveri said in a statement.
 
"We plan to aggressively open new stores in the coming financial year. We will add new stores through a mix of own and franchise stores, which will provide us profitable growth and expand our pan India brand presence," he added.