Jewellery retailer Tribhovandas Bhimji Zaveri Limited (TBZ Ltd) reported a 50 percent rise in net profit to Rs 17 crore ($2 million) for the first quarter ended June, as against Rs 11 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 5 percent to Rs 596 crore, as against Rs 570 crore in the corresponding period of the previous fiscal year.
Commenting on the results, Srikant Zaveri, chairman of TBZ Ltd in a statement said, “Our Q1FY25 results clearly demonstrate our ongoing commitment to operational excellence, which has been instrumental in driving this significant profit before tax growth. Key performance indicators such as administrative and sales cost control, inventory turnover, and capital efficiency have been central to improving our operational metrics, directly impacting our bottom line.”
“Our ongoing strategic initiatives, particularly in optimizing these areas, continue to prove effective, contributing to our strong financial performance. There is always room for further improvements, and we are determined to continue pursuing these goals,” he added.
During the quarter, the company opened a store in Jaipur to take its store count to 34 across 26 cities in India.
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