Ethos Limited, India’s largest chain of luxury watch boutiques reported a 57 percent rise in net profit to Rs 21 crore ($2.4 million) for the fourth quarter ended March 31, as against Rs 13 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 21 percent to Rs 252 crore, as against Rs 207 crore in the corresponding quarter of the previous year.
For the financial year 2024, the company reported a net profit of Rs 83 crore while its revenue stood at Rs 999 crore.
Commenting on the results, Pranav Saboo, founder managing director of Ethos Limited in a statement said, “In the financial year 2023-24, Ethos took significant strides in its growth journey. Our dedication to expansion continues, demonstrated by the addition of 13 innovative luxury brands to our portfolio. Ethos Limited unveiled 10 new boutiques across 9 cities, including an expansion in 4 new cities, marking an ambitious move towards broader accessibility.”
“Looking ahead, Ethos will continue expanding its physical as well as digital presence. With strategic plans in motion, we’re confident in achieving sustained growth and delivering value to all stakeholders,” he added.
Ethos is India’s leading luxury and premium watch retail player with 63 stores across 24 cities, and over 65 premium luxury watch brands.
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