Tribhovandas Bhimji Zaveri PAT rises 48.62% to Rs 85 crore

Tribhovandas Bhimji Zaveri Limited, TBZ posted a net profit of Rs. 85.00 crore for FY 2013, up 48.62% as compared to its net profit in FY12. TBZ has posted total income (standalone) of Rs. 1,658.34 crore, for the year ended March 31, 2013, up 19.69% as compared to that in the year ended March 31, 2012.

The Board of Directors have also recommended a dividend of 22.50%.

The Company posted a net profit of Rs. 24.99 crore for Q4 FY 2013, up 231.22% as compared to its net profit in Q4 FY12. TBZ has posted total income (standalone) of Rs. 447.33 crore, for the quarter ended March 31, 2013, up 66.85% as compared to that in the quarter ended March 31, 2012.

The Company achieved an impressive top line and bottom line growth year-on-year despite tough economic conditions and volatile gold prices. TBZ Ltd. opened 11 stores during the fiscal.

Mr. Shrikant Zaveri, Chairman and Managing Director, TBZ Ltd., said, "The objective of the IPO was to expand in newer markets and we have fulfilled our first year commitments by opening 11 new stores in this year. I am happy to inform you that inspite of adverse market conditions, we have done well."

The EBITDA for Q4 stood at Rs. 44.92 crore and the EBITDA margin for Q4 was 10.04% of total income even though the industry faced several challenges in the fourth quarter of FY13. The Earning Per Share (EPS) on a larger capital base for the fiscal was impressive at Rs. 13.02. TBZ improved net profit margin at 5.59% for the quarter and 5.13% for the fiscal on account of a strong sales growth, an optimal sales mix of gold and diamond wherein diamond jewellery sales enhanced the margins.