Ethos Limited reports revenue of Rs. 281.2 crore in Q3FY24

Ethos Limited, India's largest chain of luxury watch boutiques with 60 stores across 23 cities, and over 60 premium luxury watch brands, announced its financial results today, for the quarter and period ended December 31, 2023.

Key Financial Highlights - Q3 FY24

- Revenue of Rs. 281.2 crore with 22.4% YoY growth
- EBITDA of Rs. 50.8 crore with EBITDA margin of 17.7%
- PAT grows to Rs. 25.5 crores in Q3FY24 vs Rs. 20.7 crore in Q3FY23
- The company continued to show excellent growth on quarterly EBITDA & PAT in Q3FY24 on the back of robust demand and focused marketing initiatives
- Strong revenue growth across offline and online channels
- A higher share of in-house brand sales continues to aid margin expansion
- EBITDA margin continues to expand on the back of cost optimisation initiatives and operating leverage benefits

Key Financial Highlights - 9M FY24

- Revenue of Rs. 746.5 crore with 28.5% YoY growth
- EBITDA of Rs. 130.9 crore with EBITDA margin of 17.2%
- PAT grows to Rs. 62.3 crores in 9M FY24 vs Rs. 47.0 crore in 9M FY23
- The company recorded its highest-ever EBITDA & PAT in 9M FY24 on the back of robust demand and focused marketing initiatives.
- Strong revenue growth across offline and online channels
- A higher share of in-house brand sales continues to aid margin expansion
- EBITDA margin continues to expand on the back of cost optimisation initiatives and operating leverage benefits.

Mr Pranav Saboo, Chief Executive Officer, Ethos Limited, states, "Ethos has experienced substantial growth in the last quarter, and we are committed to sustaining and amplifying this momentum. Looking ahead, we are confident that, with strategic plans, we will be achieving long-term development and deliver continued value to all stakeholders."

Shares of Ethos Limited was last trading in BSE at Rs. 2378.90 as compared to the previous close of Rs. 2445.50. The total number of shares traded during the day was 8412 in over 2162 trades.

The stock hit an intraday high of Rs. 2496.85 and intraday low of 2367.05. The net turnover during the day was Rs. 20370864.00.

Source : Equity Bulls

Keywords

ETHOS INE04TZ01018 Retail Watches Q3FY24 9MFY24 ResultUpdate