Tribhovandas Bhimji Zaveri Limited (“TBZ”), India’s renowned and trusted jewellery retailer with a legacy of over 150 years, reported its unaudited and reviewed results and financial performance for the first quarter of financial year ending 31st March, 2016. Its total income from operations reduced 3.8 percent to Rs. 415.93 crores from Rs. 432.36 crores. Q1FY16 EBITDA grew 12.93 percent on y-o-y basis to Rs. 16.58 crores with an EBITDA margin of 3.99 percent. Q1FY16 PAT grew 420.38 percent on y-o-y basis to Rs. 2.72 crores with a PAT margin of 0.65 percent. Gross profit rose 14.22 percent to Rs. 65.25 crores from Rs. 57.13 crores. Earnings per share stood at 0.41 from 0.08.

Mr. Shrikant Zaveri, Chairman and Managing Director of the company stated that “The first quarter witnessed pickup in sales while focusing on improving operating margins. The footfalls at TBZ stores continued to be robust backed by gradual improvement in discretionary demand seen by an increase in diamond jewellery sales and wedding season which lasted till June. We continued our focus on offering novel gold and diamond jewellery designs and collections to attract customer footfalls at our stores. We are positive on our future business outlook and we will continue to expand our brand presence across India.”