TBZ drops after weak Q3 result

Tribhovandas Bhimji Zaveri lost 3.59% to Rs 64.45 at 15:08 IST on BSE after net profit fell 49.8% to Rs 3.25 crore on 19.1% decline in net sales to Rs 495.56 crore in Q3 December 2015 over Q3 December 2014.

The result was announced after market hours yesterday, 4 February 2016.

Meanwhile, the S&P BSE Sensex was up 249.95 points or 1.03% at 24,588.38

On BSE, so far 19,801 shares were traded in the counter as against average daily volume of 31,042 shares in the past one quarter. The stock hit a low of Rs 62.05 in intraday trade so far, which is 52-week low for the counter. The stock hit a high of Rs 65 so far during the day. The stock had hit a 52-week high of Rs 185.85 on 28 February 2015. The stock had underperformed the market over the past one month till 4 February 2016, falling 27.06% compared with 5.01% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 43.2% as against Sensex's 8.34% fall.

The small-cap company has equity capital of Rs 66.73 crore. Face value per share is Rs 10.

Tribhovandas Bhimji Zaveri (TBZ)'s earnings before interest, taxation, depreciation and amortization (EBITDA) dropped 24.28% to Rs 17.12 crore in Q3 December 2015 over Q3 December 2014. EBITDA margin fell to 3.45% in Q3 December 2015 from 3.69% in Q3 December 2014.

TBZ sells gold and diamond studded jewellery through retail outlets.

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