Rapaport News



Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Rough Markets
Polished Markets

TBZ's 4Q Sales Reach $78M

Net profit grows three-fold to $4.4 million.
Jun 3, 2013 2:41 AM   By Deena Taylor
Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Tribhovandas Bhimji Zaveri Ltd. (TBZ) reported that net sales grew 66 percent year on year to $78.3 million (INR 4.43 billion) in the fourth quarter that ended on March 31, 2013. The Mumbai-based jewelry ‎retailer's standalone net profit increased three-fold to $4.4 million (INR 249.9 million) during the period.

TBZ stated that its earnings before interest, tax, depreciation and amortization (EBITDA) for ‎the fourth quarter stood at $7.9 million (INR 449.2 million), while the EBITDA margin was 10 percent ‎of total income, despite the industry facing a tough economic environment during the quarter.

The company improved its net profit margin at 5.59 percent for the quarter on account of strong sales growth and an ‎optimal sales mix of gold and diamonds. TBZ noted that diamond jewelry sales enhanced its ‎margins.

For the fiscal year that ended on March 31, TBZ reported that its consolidated net profit rose 48 percent to $14.9 million (INR 845 million), ‎while net sales rose 19 percent to $291.5 million (INR 16.45 billion), despite volatile gold prices and adverse market conditions.

During the year, TBZ opened 11 stores in line with its  stated initial public offering (IPO) objective to expand into new markets. The company noted that all of its new stores contributed to the company's profit, but were yet to reach maturity in sales in their respective cities. 
Tags: Deena Taylor, diamond jewelry, gold, TBZ, Tribhovandas Bhimji Zaveri
Similar Articles
EnzoChow Tai Fook Buys Chinese Retailer Enzo
Jan 19, 2020
Chow Tai Fook has acquired Enzo Jewelry, a colored-gemstone brand...
Robust Jewelry Sales Boost Richemont
Signet Raises Forecast Following Strong Holiday
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us