Ethos Ltd Q1 net profit rises 26 percent to Rs 23 crore

Luxury watch retailer Ethos Ltd reported a 26 percent increase in consolidated net profit to Rs 23 crore ($2.8 million) for the April-June quarter, as against Rs 18 crore in the year-ago quarter.

The company’s revenue for the quarter rose by 19 percent to Rs 273 crore, as against Rs 230 crore in the corresponding quarter of the previous fiscal year.

During the quarter, the company’s second-hand segment witnessed 32 percent growth on a year-on-year basis.

Ethos added 2 brands ID Geneve and Singer Reimagined under exclusive partnerships. It opened 3 stores in Q1FY25 and 1 in August.

Ethos is India’s largest chain of luxury watch boutiques with 66 stores across 26 cities in India, and over 65 premium overall brand portfolios and more than 55 exclusive brand portfolios of the world’s top luxury watch brands.