India’s leading watch retailer Ethos Ltd witnessed a 42 percent rise in net profit to Rs 18 crore ($2.2 million) for the quarter ended June 30, as against Rs 13 crore in the year-ago period.
The company’s total income for the quarter rose by 34 percent to Rs 234 crore, as against Rs 176 crore posted in the corresponding period of the previous fiscal year.
Commenting on the Q1 results, Pranav Saboo, CEO of Ethos Limited in a statement said, “The previous quarter has seen significant growth for Ethos, even in the form of our presence, as we’ve expanded into new Indian cities, such as Raipur, Surat & Bhubaneswar. And as we continue to create value for all our stakeholders, we are confident in the strength of the Indian economy and our place in the world of luxury.”
During the quarter, Ethos Limited opened its first boutique in Raipur. The company also opened multi-brand boutiques in Ahmedabad and Chennai, along with a Jacob & Co boutique in Mumbai.
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