Tribhovandas Bhimji Zaveri dips 16% on disappointing Q2 results

The stock dipped 16% to Rs 116 on the BSE in early morning trade after the company reported 90% fall in its standalone net profit at Rs 80 lakh in Q2FY18.

Tribhovandas Bhimji Zaveri (TBZ) dipped 16% to Rs 116 on the BSE after the company reported 90% fall in its standalone net profit at Rs 80 lakh in September quarter (Q2FY18), due to poor operational performance. It had profit of Rs 7.89 crore in the same quarter last fiscal.

Total income from operations declined 27% to Rs 326 crore in Q2FY18 against Rs 447 crore in the corresponding quarter of previous fiscal. EBITDA (earnings before interest, taxes, depreciation and amortization) margin down to 5.29% in Q2FY18 from 3.66% in Q2FY17.

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