Tribhovandas Bhimji Zaveri (TBZ) has surged 5% to Rs 257 after reporting over three-fold jump in standalone net profit at Rs 24.99 crore for the quarter ended March 31, 2013 (Q4) on account of strong sales growth. The company had reported a net profit of Rs 7.54 crore in a year ago quarter.
Net sales grew 67% at Rs 447 crore on year-on-year basis, TBZ said in a statement.
EBITDA or operating margin of the company improved almost 300 bp at 10.04% against 7.31% in the corresponding quarter of previous fiscal.
The margin improvement was on account of strong sales growth, an optimal sales mix of gold and diamond wherein diamond jewellery sales enhanced the margins, it added.
The stock opened at Rs 250 and hit Rs 246 on NSE. A combined 193,587 shares have changed hands on the counter till early noon deals on NSE and BSE.
Net sales grew 67% at Rs 447 crore on year-on-year basis, TBZ said in a statement.
EBITDA or operating margin of the company improved almost 300 bp at 10.04% against 7.31% in the corresponding quarter of previous fiscal.
The margin improvement was on account of strong sales growth, an optimal sales mix of gold and diamond wherein diamond jewellery sales enhanced the margins, it added.
The stock opened at Rs 250 and hit Rs 246 on NSE. A combined 193,587 shares have changed hands on the counter till early noon deals on NSE and BSE.
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