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Tribhovandas Bhimji Zaveri Limited's Q2 FY2013 Net profit rises 17% to Rs. 19.01 cr


November 8, 2012:  Tribhovandas Bhimji Zaveri (“TBZ”) Limited, a well known and trusted jewellery retailer in India, has posted total income (standalone) of Rs. 350.44 crore, for the quarter ended September 30, 2012. The Company posted a Net Profit of Rs. 19.01 crore for Q2 FY 2013. The company achieved an impressive top line growth of 24% and 17% bottom line growth on Quarter over Quarter despite a tough economic environment and higher gold prices.

The EBITDA for quarter stood at Rs. 28.39 crore and the EBITDA margin for Q2 FY 2013 is 8.62% of total income even though the industry faced several challenges in the second quarter. TBZ maintained Net Profit margin at 5.45% for the quarter on account of an optimal sales mix of gold and diamond wherein diamond jewellery sales enhanced the margins.

TBZ New Vapi Showroom
Commenting on the financial performance of the Company, Mr. Shrikant Zaveri, Chairman and Managing Director, Tribhovandas Bhimji Zaveri Limited, said, “In the second quarter, our focus was on enhancing our brand positioning in the wedding segment and enhancing our retail presence. In this quarter, TBZ successfully opened 5 new stores adding up to retail carpet area of 15,338 sq. ft. With this we now have19 showrooms in 13 cities across 6 States including Maharashtra, Gujarat, Madhya Pradesh, Kerala, Andhra Pradesh and West Bengal.”


According to Mr. Zaveri, “Overall volumes are expected to recover during the 2nd half of FY2013.TBZ is maintaining the momentum of its retail expansion across key markets.”

With festivals around the corner, TBZ Limited has unveiled new collections like the New Wedding collections for the upcoming wedding season and ‘Showstopper – A party wear collection’. This coupled with tactical offers during festival time is expected to create a positive momentum in store sales.

 About Tribhovandas Bhimji Zaveri Limited (www.tbztheoriginal.com)
TBZ Ltd (BSE: 534369 | NSE: TBZ) has a 150-year old track-record of trust, quality and purity of its products, TBZ has won several prestigious awards including the Readers Digest Trusted Brand Asia in the category of Jewellery Shop in 2006, 2007 and 2008. TBZ has received other awards for both products and customer service, including the DTC Best Showroom award in 2004 and 2006, the DTC Best Diamond Moments award in 2005 for customer interactions, the DTC Best Showroom and Sales Person award in 2006 and 2007, the Jaipur Jewellery Show Gold Souk Awards 2007, which honoured TBZ’s contribution to the gem and jewellery industry in India, and the Jamnalal Bajaj Uchit Vyavahar Puraskar 2007 – Council for Fair Business Practices Award. For the year ended March 31, 2012, net profit of TBZ Limited was Rs. 57.19 Crores and total income from operations was Rs. 1,385.47 Crores.


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