Tribhovandas Bhimji Zaveri rose 3.24% to Rs 95.50 at 10:59 IST on BSE after the company reported net profit of Rs 5.64 crore in Q4 March 2017, compared with net loss of Rs 17 crore in Q4 March 2016.
The result was announced after market hours yesterday, 3 May 2017.
Meanwhile, the S&P BSE Sensex was up 192.35 points, or 0.64% at 30,087.15. The S&P BSE Small-cap index was up 87.13 points, 0.56% at 15,518.09.
On the BSE, 1.42 lakh shares were traded on the counter so far as against the average daily volumes of 1.12 lakh shares in the past one quarter. The stock had hit a high of Rs 99 and a low of Rs 95.05 so far during the day.
The stock had hit a 52-week high of Rs 102.25 on 25 April 2017 and a 52-week low of Rs 56.10 on 26 December 2016. The stock had outperformed the market over the past one month till 3 May 2017, advancing 17.68% compared with the Sensex's 0.05% fall. The scrip had also outperformed the market over the past one quarter advancing 36.23% as against the Sensex's 5.86% rise.
The small-cap company has equity capital of Rs 66.73 crore. Face value per share is Rs 10.
The company reported earnings before interest, tax, depreciation and amortization (EBITDA) of Rs 14.68 crore in Q4 March 2017, as against a loss of Rs 0.73 crore in Q4 March 2016.
TBZ's Chairman and Managing Director Shrikant Zaveri said that FY 2017 has been a year of operational turnaround for the company marked by higher jewellery sales and improved profitability. The year witnessed several challenges in form of country-wide agitation by gems & jewellery industry in April 2016 due to imposition of excise duty, withdrawal of high denomination banking notes in November 2016 and Rs 2 lakh limit on cash transactions announced in February 2017. However, higher festive demand, extended wedding season and higher sales under Kalpavruksha scheme led to an overall growth in jewellery sales, Zaveri said.
Zaveri stated that the management maintains a positive outlook for FY 2018 and are optimistic of expanding the company's retail presence in an asset-light manner at an accelerated pace. While the company's focus will be on growth, it shall continue to maintain strict control on its operating overheads to drive profitable growth, Zaveri said.
Tribhovandas Bhimji Zaveri sells gold and diamond studded jewellery through retail outlets.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)