Tribhovandas Bhimji Zaveri Ltd Q2 net profit jumps 44 percent to Rs 13 crore

Tribhovandas Bhimji Zaveri Limited (TBZ Ltd), a leading jewellery retailer reported a 44 percent rise in net profit to Rs 13 crore ($1.6 million) for the second quarter ended September 30, as against Rs 9 crore in the year-ago quarter.

The company’s revenue for the quarter rose by 18 percent to Rs 567 crore, as against Rs 481 crore in the corresponding quarter of the previous fiscal year.

During the quarter, TBZ strengthened its presence in eastern India with new stores in Rourkela and Bhubaneshwar.

The company also saw a substantial increase in new customer acquisitions driven by innovative designs and product offering across different price points.

Commenting on the results, Srikant Zaveri, chairman of TBZ Ltd in a statement said, “Our results for Q2 and H1 FY25 reflect TBZ’s ongoing dedication to growth and operational discipline. The solid gains in profitability through steadily expanding margins are tangible outcomes of our focus on efficiency and our more profitable product segments.”

“With the addition of new stores in Rourkela and Bhubaneshwar, taking our total to 36, we are well positioned to further deepen our presence in Eastern India and cater to a broader market with our legacy of craftsmanship and quality,” he added.

TBZ Ltd is one of India’s leading jewellers with 36 stores spread across 28 cities in 12 states. It also sells through its e-commerce website.