Mumbai: Tribhovandas Bhimji Zaveri Limited (“TBZ”) reported its unaudited and reviewed results and financial performance for the third quarter and first nine months of financial year ending 31st March, 2016.
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The total income from operations during Q3FY16 declined by 19.08% YoY to Rs. 495.66 crores. Q3FY16 EBITDA declined by 24.28% YoY to Rs. 17.12 crores with an EBITDA margin of 3.45%. Q3FY16 PAT declined by 49.80% YoY to Rs. 3.25 crores with a PAT margin of 0.66%.
The total income from operations during 9MFY16 declined by 8.26% YoY to Rs. 1,349.61 crores. 9MFY16 EBITDA declined by 27.51% YoY to Rs. 36.18 crores with an EBITDA margin of 2.68%. 9MFY16 PAT declined to Rs. -6.13 crores with a PAT margin of -0.45%.
Mr. Shrikant Zaveri, Chairman and Managing Director of the company stated that “While we witnessed lower consumer discretionary demand during the quarter, the Company was successful in maintaining its gross margin on YoY basis. Going forward we remain optimistic about jewellery demand with the onset of the wedding season. We have also received positive customer response to our re-launched Kalpavruksha Scheme. Sales through Kalpavruksha redemptions comprised 15% of 9MFY15 sales; current year redemptions will commence only from March’ 2016. We continue with our expansion efforts, and have recently launched our first franchise store and 30th TBZ-The Original store in Dhanbad, Jharkhand. Further, we have signed two more franchise agreements for our upcoming stores in Jaipur, Rajasthan & Ranchi, Jharkhand.”
