Ethos Ltd Q3 net profit rises 15 percent to Rs 29 crore

Luxury watch retailer Ethos Ltd reported a 15 percent increase in net profit to Rs 29 crore ($3.4 million) for the third quarter ended December 2024, as against Rs 26 crore in the year ago quarter.

The company’s revenue for the quarter rose by 32 percent to Rs 370 crore, as against Rs 281 crore in the corresponding quarter of the previous fiscal year.

Total expenses rose by 32 percent to Rs 335 crore, as against Rs 253 crore posted in corresponding quarter last year.

Commenting on the results, Pranav Saboo, managing director CEO of Ethos Ltd in a statement said, “We are pleased to report a 31.5% year-on-year revenue growth to Rs 370 crore in Q3 FY25, compared to Rs 281 crore in Q3 FY24. Similarly, for the nine-month period ending December 2024 (9M FY25), revenue grew by 26 percent to Rs 940 crore, up from Rs 746 crore in 9M FY24.”

“In line with our strategic focus, we have also signed six new exclusive brand partnerships since April, with additional collaborations in the pipeline. Revenue from exclusive brands contributed 29.7 percent of total revenue in Q3 FY25 and 29.5% in 9M FY25, underscoring the growing significance of this segment,” he added.

During the quarter, the company added 5 new stores taking its overall count to 73 stores. It plans to open six stores before the end of the financial year 2025.