Ethos ltd Q3- FY23 Results

New Delhi, India, February 2023: Ethos Limited, India’s largest chain of luxurious watch boutiques with 50 shops in India throughout 18 cities, and over 60 premium luxurious watch manufacturers, introduced its monetary outcomes as we speak, for the quarter ended December 31, 2022.

Key Financial Highlights – Q3 FY23

Revenue of Rs. 229.7 crore with 17.6% YoY progress
EBITDA of Rs. 39.5 crore with EBITDA margin of 16.9%
PAT grows to Rs. 20.7 crores in Q3FY23 vs Rs. 12.1 crore in Q3FY22
Company continued to indicate glorious progress on quarterly EBITDA & PAT in Q3FY23 on the again of strong demand and centered advertising and marketing initiatives
Strong income progress throughout offline and on-line channels
Higher share of in-house model gross sales proceed to help margin growth
EBITDA margin continues to develop on the again of value optimization initiatives and working leverage advantages

Key Financial Highlights – 9M FY23

Revenue of Rs. 581.0 crore with 38.8% YoY progress
EBITDA of Rs. 98.5 crore with EBITDA margin of 16.7%
PAT grows to Rs. 47.0 crores in 9MFY23 vs Rs. 15.5 crore in 9MFY22
Company recorded its highest ever EBITDA & PAT in 9MFY23 on the again of strong demand and centered advertising and marketing initiatives
Strong income progress throughout offline and on-line channels
Higher share of in-house model gross sales proceed to help margin growth
EBITDA margin continues to develop on the again of value optimization initiatives and working leverage advantages

Management Comment:

Mr. Pranav Saboo, Chief Executive Officer, Ethos Limited stated, “The income progress, progress in revenue and extra unique partnerships signed on this quarter present the super potential of finely crafted timepieces, luxurious merchandise and Ethos, to ship long-term worth creation for all stakeholders. As we mark our twentieth anniversary, we’re pleased with our long-standing relationships with our staff, manufacturers, location companions and our valued clients. Our concentrate on each stake holder will proceed as we begin the third decade of Ethos Limited”

Key Highlights:

New Exclusive Brand Partnerships: Ethos Limited has entered into model agreements with globally acclaimed Swiss watchmakers Bell & Ross, Speake-Marin and Trilobe, and German watch model Tutima to be their unique retail associate within the Indian market.

Geographic Expansion and new retailer addition: During the quarter, Ethos Limited opened its first retailer in Indore. With this, Ethos Limited is now current in 18 cities throughout India. Further, a brand new multi-brand boutique has additionally been added in Bengaluru.