Brands
TBZ posts 13 per cent profit growth in Q1 as sales see steady rise
MUMBAI: All that glitters is gold at least for TBZ. Tribhovandas Bhimji Zaveri Limited (TBZ), the iconic Indian jeweller, began FY26 on a shiny note, reporting a 13.4 per cent year-on-year rise in profit after tax (PAT) to Rs 209.44 million for the quarter ended 30 June 2025. The performance came riding on the back of festive campaigns, curated premium collections, and expanding footprint in key metros and emerging markets.
Revenue from operations for Q1 FY26 rose 4.7 per cent to Rs 6,240.07 million, up from Rs 5,962.43 million in Q1 last year. What sparkled more than sales, though, was efficiency gross profit rose a gleaming 17.4 per cent to Rs 1,008.43 million, buoyed by better product mix and procurement smarts. Gross margin jumped 176 basis points (bps) to 16.16 per cent.
EBITDA for the quarter clocked in at Rs 514.08 million, a 20.7 per cent YoY rise, while EBITDA margin improved 110 bps to 8.24 per cent, reflecting operational discipline even as new stores came online. Profit before tax stood at Rs 282.39 million, up 13.8 per cent from Rs 248.16 million in the same quarter last year.
PAT margin ticked up 27 bps to 3.37 per cent. Basic and diluted earnings per share (EPS) rose to Rs 3.14, up from Rs 2.77 in Q1 FY25.
On a consolidated basis, TBZ’s performance was equally gilded. Consolidated PAT came in at Rs 224.97 million, up from Rs 170.48 million a year ago. Total income stood at Rs 6,257.44 million, with total expenses at Rs 5,959.49 million. Operating costs remained largely under control despite higher material costs and finance charges.
The company’s strategy leaning into occasion-led campaigns and premium designs seems to be paying off. Inventory changes shaved off Rs 3,176.57 million in costs, and labour charges were kept at Rs 507.27 million. Finance costs stood at Rs 1,767.28 million, and depreciation rose marginally to Rs 741.76 million.
In a market known for volatility and sentiment-driven buying, TBZ has managed to strike the right chord with customers while keeping its financials glittering. The strong start to FY26, marked by both topline growth and margin expansion, sets the tone for the quarters ahead especially as the festive and wedding season approaches.
Brands
UK’s OnlyFans seeks US investor at $3bn valuation after owner’s death
The adult video platform is seeking stability after the death of its billionaire owner
LONDON: OnlyFans is looking for a new partner. The London-based adult video platform is in advanced talks to sell a minority stake of less than 20 per cent to Architect Capital, a San Francisco-based investment firm, in a deal that would value the business at more than $3bn (£2.2bn).
The move is driven by an urgent need for stability. Leonid Radvinsky, the Ukrainian-American billionaire who owned OnlyFans, died of cancer last month at the age of 43, leaving the future of one of Britain’s most profitable privately held businesses suddenly uncertain.
The choice of Architect Capital is not arbitrary. The firm has deep expertise in financial services, which aligns neatly with OnlyFans’ ambitions to offer banking products to its creators, many of whom have long struggled to access basic financial services because of the nature of their work.
The numbers behind OnlyFans are, by any measure, staggering. The platform posted revenues of $1.4bn in the year to 30th November 2024, with a pre-tax profit of $684m, up four per cent on the prior year. Payments to creators totalled $7.2bn over the same period, a rise of nearly ten per cent. Radvinsky personally collected $701m in dividends from the business in 2024 alone, on top of more than $1bn in such payments he had already received. The platform, run through its parent company Felix International, hosts 4.6m creator accounts, with performers keeping 80 per cent of subscription proceeds and the platform pocketing the remaining 20 per cent. It has 377m fan accounts in total.
The current minority stake talks represent a notable scaling back of ambitions. In January, OnlyFans was reported to be in discussions with Architect about selling a majority stake of 60 per cent. Before that, the company had explored a sale to a consortium led by Forest Road Company, a Los Angeles-based investment firm. Neither deal materialised.
OnlyFans has built an enormously lucrative business on content that mainstream finance has long refused to touch. Now, with its owner gone and a $3bn valuation on the table, it is looking for the kind of respectable institutional backing that might finally persuade the banks to take its calls.
