Jewellery retailer Tribhovandas Bhimji Zaveri (TBZ) has recorded a net profit of Rs 162.69 million in the first quarter ended June 30, 2012. The total stand-alone income of the company stood at Rs 2,835 mn for the quarter. The EBITDA for the period stood at Rs 295.64 mn and the EBITDA margin for the first quarter of financial year 2013 was 10.4 percent. TBZ maintained net profit margin at 5.74 percent for the quarter on account of the sales mix of gold and diamond wherein diamond jewellery sales enhanced the margins.
Commenting on the company’s financial performance, Shrikant Zaveri, Chairman and Managing Director, Tribhovandas Bhimji Zaveri, said: “In the first quarter following the successful completion of the IPO, our focus was on reinforcing the brand and its premier wedding jewellery positioning. We deployed an interesting sales mix of gold, diamond, and fusion jewellery while unveiling exciting new collections such as Dohra collection to entice the customers and increase same-store sales. For the first time ever, TBZ opted for a gold loan facility during this quarter as a business practice to help enhance business efficiencies and mitigate the risk of gold price volatility.”
The retailer has 15 showrooms in 9 cities across 5 states, which have a total carpet area of approximately 51,000 sq.ft. For the year ended March 31, 2012, net profit of TBZ stood at Rs 571.93 mn while it recorded a total income Rs 13,854.70 mn from operations.
