|
|
TBZ's 4Q Sales Reach $78M
Jun 3, 2013 2:41 AM
By Deena Taylor
|
|
|
RAPAPORT... Tribhovandas Bhimji Zaveri Ltd. (TBZ) reported that net sales grew 66 percent year on year to $78.3 million (INR 4.43 billion) in the fourth quarter that ended on March 31, 2013. The Mumbai-based jewelry retailer's standalone net profit increased three-fold to $4.4 million (INR 249.9 million) during the period.
TBZ stated that its earnings before interest, tax, depreciation and amortization (EBITDA) for the fourth quarter stood at $7.9 million (INR 449.2 million), while the EBITDA margin was 10 percent of total income, despite the industry facing a tough economic environment during the quarter.
The company improved its net profit margin at 5.59 percent for the quarter on account of strong sales growth and an optimal sales mix of gold and diamonds. TBZ noted that diamond jewelry sales enhanced its margins.
For the fiscal year that ended on March 31, TBZ reported that its consolidated net profit rose 48 percent to $14.9 million (INR 845 million), while net sales rose 19 percent to $291.5 million (INR 16.45 billion), despite volatile gold prices and adverse market conditions.
During the year, TBZ opened 11 stores in line with its stated initial public offering (IPO) objective to expand into new markets. The company noted that all of its new stores contributed to the company's profit, but were yet to reach maturity in sales in their respective cities.
|
|
|
|
|
|
|
|
|
|
Tags:
Deena Taylor, diamond jewelry, gold, TBZ, Tribhovandas Bhimji Zaveri
|
|
|
|
|
|
|
|
|
|
|
|
|