Tribhovandas Bhimji Zaveri's quarterly profit rockets 170%

Tribhovandas Bhimji Zaveri reported a 170% surge in third-quarter profit ​on Tuesday, buoyed by strong festive demand ‌and higher store footfalls during the peak wedding season.

The company’s net ‌profit rose to 806.3 million rupees ($8.86 million) in the October-December quarter from 298.8 million rupees a year earlier.

Quarterly revenue rose 14.4% to 10.61 billion rupees.

The December quarter ⁠typically accounts for ‌about a third of gold sales in the world’s second-largest gold consumer, as it ‍not only comprises festival days that are considered auspicious for gold purchases but it also coincides with the start of ​the wedding season.

Climbing gold prices also meant customers ‌turned to the bullion for investment.

Spot gold prices rose nearly 12% during the quarter, driven by geopolitical uncertainties, rate cuts and robust central bank buying.

The sector has benefited from higher disposable incomes, supported by fiscal ⁠measures such as the goods ​and service (GST) tax cuts and ​income tax relief, which have left consumers with more spending power on discretionary purchases such ‍as gold.

Peers ⁠such as Titan, Kalyan Jewellers and Senco Gold have reported robust quarterly sales growth, underlining broad-based sector ⁠strength.

Established in 1864, Tribhovandas Bhimji Zaveri (TBZ) is one of India’s most storied jewelry retailers, boasting a legacy of over 160 years. Founded by Shri Tribhovandas Bhimji Zaveri in Mumbai’s historic Zaveri Bazaar, the brand has built an enduring reputation founded on the principles of trust, transparency, and impeccable craftsmanship. TBZ is widely recognized for pioneering industry standards in India, notably being the first to introduce a 100% buyback guarantee in 1938 and becoming a frontrunner in offering BIS-hallmarked gold and certified solitaire diamonds. This commitment to consumer confidence has transformed the brand from a single family-owned shop into a national institution, currently managed by the fifth generation of the Zaveri family.

Today, TBZ operates an expansive retail network of over 37 showrooms across 27 cities in India, catering to a diverse clientele with its blend of traditional and contemporary designs. The company specializes in high-end bridal jewelry, temple collections, and diamond-studded pieces, all supported by a state-of-the-art manufacturing facility in Mumbai. Beyond its craftsmanship, TBZ remains a market leader in the organized jewelry sector, recently achieving significant financial growth and earning accolades such as the “Visionary Leader of the Year” for Chairman Shrikant Zaveri in early 2026. By merging its rich heritage with modern retail strategies and a strong digital presence, the brand continues to be a preferred destination for luxury jewelry in India.