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TBZ's Revenue +32%, Profit -84%

Nov 4, 2014 1:34 PM   By Jeff Miller
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RAPAPORT...  Tribhovandas Bhimji Zaveri (TBZ) Ltd. reported that revenue rose 32.1 percent year on year to $69.4 million (INR 4.26 billion) in the second quarter that ended on September 30. The company's profit, however, plunged 84.3 percent to $89,560 (INR 5.5 million).

Shrikant Zaveri, the chairman and managing director of TBZ, explained  "We at TBZ have always remained focused on the growth of sales, keeping in mind the operating costs and debt. With the tough times seen over the past few years and the fluctuating gold price, we have emerged stronger and the company is hopeful of stimulating consumer demand from the current fiscal year through innovative offerings. We shall continue to focus on offering innovative designs and products and aim to increase our sales with emphasis on higher diamond jewelry sales".

 

Tags: diamonds, India, Jeff Miller, Jewelry, revenue, TBZ, Tribhovandas Bhimji Zaveri
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