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TBZ's 4Q Revenue Flat, Profit -53%
Jun 1, 2014 8:41 AM
By Ronen Shnidman
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RAPAPORT... Tribhovandas Bhimji Zaveri (TBZ) Ltd. reported that revenue was flat year on year at $75.4 million (INR 4.47 billion) for the fourth quarter that ended March 31, 2014. Expenses rose 3 percent to $70.4 million (INR 4.17 billion). Net profit after taxes fell 53 percent to $2 million (INR 117 million) for the period.
For the full fiscal year, the Mumbai-based jeweler reported that revenue grew 10 percent year on year to $308.1 million (INR 18.24 billion). Expenses rose 12 percent to $287.3 million (INR 17.01 billion), while net profit after taxes fell 35 percent to $9.3 million (INR 550 million).
TBZ said that its operating performance had been stable during the year despite a business environment marked by economic slowdown, high inflation, weak consumer sentiment and an unfavorable regulatory environment. To deal with the challenging macro-environment, the company explained that it slowed its expansion plans and focused on improving same-store sales.
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Tags:
dividend, gold imports, India, Ronen Shnidman, TBZ
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