TBZ Q4 net profit rises three-fold to Rs 9 crore
Jewellery firm Tribhovandas Bhimji Zaveri Ltd (TBZL) witnessed a three-fold jump in consolidated net profit at Rs 9 crore ($1.3 million) for the fourth quarter ended March 2021, as against a net profit of Rs 3 crore it posted in the year-ago period.
The company’s revenue also rose to Rs 369 crore for the quarter, as against Rs 344 crore it posted in the corresponding period last year.
TBZ’s expenses for the quarter increased to Rs 358 crore, as against previous fiscal’s Rs 342 crore.
Commenting on the results, Shrikant Zaveri, chairman and managing director of TBZ in a statement said: “During the quarter, our overall performance has been encouraging. We have emerged stronger during these tough times by improving our balance sheet. Our focus during the quarter and the FY was to effectively rationalize our inventory levels, improve our cash flows, reduce borrowings & debt cost and use our cash reserves judiciously. We have been able to achieve all these to a satisfactory level.”
“Amidst these very challenging times, we shall continue to strive towards ensuring that our Balance Sheet remains strong and our retail sales strategy remains firmly focused on higher stores footfalls as well as greater online customer engagements to enhance revenues and generate healthy profits as also keep a keen eye on growth opportunities as the year progresses,” he added.
TBZ is one of India’s leading jewellery retailers, with 31 stores operating in 25 cities across the country.
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