Ethos Limited, India’s largest chain of luxury watch boutiques reported a 24 percent rise in net profit to Rs 25 crore ($3.1 million) for the quarter ended December 2023, as against Rs 21 crore in the year-ago period.
The company’s revenue for the quarter rose by 22 percent to Rs 281 crore, as against Rs 230 crore in the corresponding quarter of the previous fiscal year.
Commenting on the results, Pranav Saboo, CEO of Ethos Limited in a statement said, “Ethos has experienced substantial growth in the last quarter, and we are committed to sustaining and amplifying this momentum. Looking ahead, we are confident that, with strategic plans, we will be achieving long-term development and deliver continued value to all stakeholders.”
During the quarter, Ethos Limited opened Rimowa’s first boutique in India at Jio World Plaza and plans to open a boutique for luxury jewellery brand Messika later this financial year.
Ethos Ltd with over 60 premium luxury watch brands claims to be India’s largest luxury watch retailer with 60 stores across 23 cities in India.
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