Tribhovandas Bhimji Zaveri Ltd Q4 net profit jumps to Rs 12 crore

By

Maverick Martins

Published
May 25, 2023

Jeweller Tribhovandas Bhimji Zaveri (TBZ) Ltd recorded a three-fold rise in net profit to Rs 12 crore ($1.4 million) for the fourth quarter ended March 2023, as against Rs 4 crore reported in the year-ago period.

The company’s sales for the quarter were up by 8 percent to Rs 465 crore, as against Rs 431 crore in the corresponding period of the previous fiscal year.

Commenting on the results, Shrikant Zaveri, chairman managing director at TBZ Ltd in a statement said, “We are delighted to report our strong financial performance for the fourth quarter and fiscal year 2023. Our focus on delivering unique designs and enhancing operational efficiency has translated into higher sales and improved margins.”

“Overall, TBZ has experienced growth in both the gold and diamond segments, reaffirming the strength and diversification of its product offerings. We are determined to sustain this momentum and further strengthen our position in the market,” he added.

The Mumbai-based Tribhovandas Bhimji Zaveri Limited is one of India's leading jewellery retailers with a strong presence across India with 32 stores in 25 cities.