Revenue for the March quarter rose 33% year-on-year to ₹414 crore from ₹311 crore in the corresponding period last year. EBITDA increased 8% to ₹51 crore compared with ₹47.2 crore a year ago.
However, EBITDA margin narrowed sharply to 12.3% from 15.2% in the year-ago quarter, reflecting higher costs and changing product mix. Net profit declined 3% year-on-year to ₹22 crore from ₹22.7 crore.
Following the earnings announcement, shares of Ethos Ltd fell to an intraday low of ₹2,232.50 before recovering some losses to trade 2.25% lower at ₹2,306.50 on the NSE as of 2:13 PM.
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Ethos is among India’s leading luxury and premium watch retailers, housing a portfolio of international watch brands across multiple cities through its retail stores and online platform.
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