Tribhovandas Bhimji Zaveri Limited (TBZ Ltd) reported a 7 percent rise in net profit to Rs 13 crore ($1.5 million) for the fourth quarter ended March 31, as against Rs 12 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 9 percent to Rs 507 crore, as against Rs 465 crore in the corresponding quarter of the previous fiscal year.
For the full financial year 2024, TBZ Ltd’s net profit stood at Rs 54 crore with a revenue of Rs 2,299 crore.
Commenting on the results, Srikant Zaveri, chairman of TBZ Ltd in a statement said, “Despite the challenging market conditions, we have managed to sustain our profitability and market position. This quarter, even though we faced headwinds from increased gold prices and election-related slowdowns, our strategic initiatives have allowed us to maintain a steady course.”
“Our investments in technology and innovation have been a key driver of our resilience. We will remain focused on expanding our footprint domestically, while maintaining our commitment to our uniqueness. quality and excellence,” he added.
TBZ Ltd is one of India’s leading jewellers with 33 stores spread across 25 cities in 12 states. It also sells through its e-commerce website.
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