Business

Jewellery retailer TBZ reports Q1 total income at Rs 430 crore

ANI | August 12, 2019 05:31 PM
TBZ began its journey in 1864 opening the flagship store at Zaveri Bazar in Mumbai

Mumbai (Maharashtra) [India], Aug 12 (ANI): Jewellery retailer Tribhovandas Bhimji Zaveri (TBZ) on Monday reported 4.6 per cent increase in its total income from operations to Rs 429.7 crore during the first fiscal quarter (April to June) as compared to the year-ago period.

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 85.21 per cent year-on-year to Rs 25.7 crore with an EBITDA margin of 5.98 per cent.

While the profit before tax increased by 143.84 per cent to Rs 4.97 crore, the profit after tax went up by 135.51 per cent year-on-year to Rs 3.09 crore.

"Consumer sentiments were encouraging during the quarter due to twp major festivals. We expect to grow market share going forward with an early onset of the festive season," said Chairman and Managing Director Shrikant Zaveri.

"Our operational profitability and cash flow improved in line with the revenues while we maintained strict control on operating costs," he added.

TBZ has transformed itself from a one-store family-owned business in 1864 to a professional organisation spearheaded by the fifth generation, expanding its presence and reach across India with 41 stores operating in 29 cities. (ANI)

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