fbpx
Connect with us
RJI

Daily News

Tribhovandas Bhimji Zaveri posts strong Q4 profit, outlines blueprint for franchisee store expansion 

Published

on

Tribhovandas Bhimji Zaveri posts strong Q4 profit surge amidst steady demand
RJI

The brand outlines the blueprint to expand its footprint by opening franchise stores in new cities during the fiscal year 2025 

Mumbai: Tribhovandas Bhimji Zaveri (TBZ) has announced a significant 7.5% increase in its fourth-quarter profits, fueled by consistent demand in the market. The company’s consolidated net profit for the quarter ending March 31 surged to Rs 126.1 million rupees ($1.5 million), as compared to Rs 117.3 million during the same period last year. 

The boost in TBZ’s bottom line is attributed to sustained demand, largely influenced by an extended Indian wedding season observed in January. Despite record-high gold prices of Rs 67,850 per 10 grams in the March quarter, gold demand in India, the world’s second-largest gold consumer, escalated by 8% year-on-year during the January-March period. 

TBZ, headquartered in Mumbai, witnessed a notable rise in total revenue from operations, marking a 9% increase to Rs 5.07 billion. Simultaneously, total expenses climbed by 9.2% to Rs 4.93 billion. The company attributed its operational efficiency to the implementation of advanced inventory management systems and process automation, aiming to streamline operations and curtail costs. 

Looking ahead, TBZ has outlined plans to expand its footprint by opening franchise stores in new cities during the fiscal year 2025. 

RJI

In contrast to some competitors such as Titan Company, which reported a quarterly profit miss due to higher discounts and gold prices, TBZ’s performance stands out. Kalyan Jewellers India, another major player in the industry, reported an impressive 96% surge in its fourth-quarter profit. 

TBZ’s shares experienced a modest 0.8% increase ahead of the results announcement, reflecting investor optimism. However, despite this positive development, the company’s stock has faced a 12.8% decline since the beginning of the year. 

Retail Jeweller India News 

Continue Reading
Advertisement

Latest News

RJI