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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