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Jewellery retailer Tribhovandas Bhimji Zaveri (TBZ) today reported a standalone net profit of Rs 19.01 crore for the quarter ended September 30.
As this is the second result after the company launched its IPO, there are no comparable figures of the previous years. In April this year, TBZ had launched its Rs 200-crore IPO, which was subscribed 1.5 times on the NSE.
It had posted a net profit of Rs 16.26 crore for the quarter ended June 30, the company said in a filing to the BSE.
On a standalone basis, TBZ reported net sales of Rs 349.04 crore in the second quarter of 2012-13 fiscal against net sales of Rs 282.27 crore for the quarter ended July 31, 2012.
“In the second quarter, our focus was on enhancing our brand positioning in the wedding segment and enhancing our retail presence,” Srikant Zaveri, Chairman and Managing Director, TBZ said in a statement.
The overall volumes are expected to recover during the second half of the current fiscal, he added.
Last month, the company had said it plans to open 43 new stores across India by 2015 with an investment entailing about Rs 1,200 crore.
The company currently operates 19 showrooms in 13 cities across 6 states, including Maharashtra, Gujarat, Madhya Pradesh, Kerala, Andhra Pradesh and West Bengal.
Shares of TBZ today fell by 2.15 per cent to settle at Rs 211.50 apiece from its previous close at the BSE.
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