TBZ’s total income from operations declined 19.08% in Q3

Total income from operations dropped 8.26% in first nine months
Image Courtesy: TBZ
Image Courtesy: TBZ

Tribhovandas Bhimji Zaveri Limited (TBZ), a leading Indian jewellery retailer with a legacy of over 150 years, announced its unaudited and reviewed results and financial performance for the third quarter and first nine months of financial year ending 31st March, 2016.

During Q3, total income from operations declined 19.08 percent on y-o-y basis to Rs. 495.66 crores. EBITDA in this period declined by 24.28 percent on y-o-y basis to Rs. 17.12 crores with an EBITDA margin of 3.45 percent. PAT declined 49.80 percent to Rs. 3.25 crores with a PAT margin of 0.66 percent.

In the first nine months, total income from operations dropped 8.26 percent on y-o-y basis to Rs. 1,349.61 crores, while EBITDA declined by 27.51 percent to Rs. 36.18 crores with an EBITDA margin of 2.68 percent. PAT during these nine months, declined to Rs. -6.13 crores with a PAT margin of -0.45 percent.

Mr. Shrikant Zaveri, Chairman and Managing Director of the company stated that “While we witnessed lower consumer discretionary demand during the quarter, the company was successful in maintaining its gross margin on y-oy basis. Going forward we remain optimistic about jewellery demand with the onset of the wedding season. We have also received positive customer response to our re-launched Kalpavruksha Scheme. Sales through Kalpavruksha redemptions comprised 15 percent of 9MFY15 sales; current year redemptions will commence only from March’ 2016.” Speaking of looking forward, he said, “We continue with our expansion efforts, and have recently launched our first franchise store and 30th TBZ-The Original store in Dhanbad, Jharkhand. Further, we have signed two more franchise agreements for our upcoming stores in Jaipur, Rajasthan & Ranchi, Jharkhand.”


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