TBZ Q4 net up at Rs 7.04 crore on better operating costs

Tribhovandas Bhimji Zaveri (TBZ) today reported a net profit of Rs 7.04 crore during the fourth quarter ending March 31, mainly by containing operating costs.

The company had posted a loss of Rs 4,63,000 lakh in the corresponding period of 2017-18, TBZ said in a BSE filing.

Total income of the company grew by 13.59 per cent during the last quarter of 2017-18, to Rs 436.75 crore compared to Rs 384.49 crore in the same period in the previous year.

"The fourth quarter displayed healthy revenue growth with the ongoing wedding season. Our operational profitability and cash flows improved in line with the revenues whilst we maintained strict control on operating costs," TBZ Chairman and managing director Shrikant Zaveri said.

"We plan to aggressively open new stores in the coming financial year. We will add new stores through a mix of own and franchise stores, which will provide us profitable growth and expand our pan India brand presence," he added.

The company's net profit for the year ending March 31, grew by 25.74 per cent to Rs 21.05 crore compared to Rs 16.74 crore in 2016-17.

Total income of the company grew by 3.56 per cent to Rs 1762.72 crore in FY18, compared to Rs 1,702.02 crore in the same period last year. Shares of TBZ declined by 1.57 per cent to Rs 103.75 on BSE.