TBZ Shares Fall as Third Quarter Net Dips 65%

Shares of Tribhovandas Bhimji Zaveri (TBZ) plunged nearly 6 per cent to hit low of Rs 163.60 after the jewellery retailer said that its net profit for the quarter ended December 2014 dipped 66 per cent to Rs 6.5 crore from Rs 19.1 crore on year-on-year basis.

 

Total income for the quarter under review jumped 18 per cent to Rs 612 crore. 

Tribhovandas Bhimji Zaveri's management told NDTV that the company spent 5 per cent of its total income on advertising.

 

At 1:45 PM, the stock was trading lower by 2.7 per cent at Rs 169.