Tribhovandas Bhimji Zaveri Q3 net profit rises 4 percent to Rs 21 crore

Jewellery retailer Tribhovandas Bhimji Zaveri (TBZ) Ltd witnessed a 4 percent rise in net profit to Rs 21 crore ($2.6 million) for the third quarter ended December 2023, as against Rs 20 crore in the year-ago period.

The company’s revenue for the quarter was down by 9 percent to Rs 741 crore, as against Rs 812 crore posted in the corresponding quarter of the previous fiscal year.

Commenting on the results, Shrikant Zaveri, chairman of TBZ Ltd in a statement said, “Our performance in the first nine months or FY24 highlights our commitment to steady growth and improved profitability despite market challenges. With our expanding footprint and enhanced operational metrics, TBZ has earned the trust of a multi-generational clientele.”

“We remain dedicated to delivering high-value growth without compromising on quality and renowned designs,” he added.

During the quarter, TBZ Ltd opened a new store in Vapi to take its store count to 33 stores across India.