Q2FY23 Quarterly Result Announced for Ethos Ltd.
Retail firm Ethos announced Q2FY23 results: Q2FY23: Revenue of Rs 177.7 crore with 32% YoY growth EBITDA of Rs 29.7 crore with an EBITDA margin of 16.4% PAT grows to Rs. 13.6 crores in Q2FY23 vs Rs. 2.7 crore in Q2FY22 The company continued to show excellent growth on quarterly EBITDA & PAT in Q2FY23 on the back of robust demand and focused marketing initiatives Strong revenue growth across offline and online channels The higher share of in-house brand sales continues to aid margin expansion EBITDA margin continues to expand on the back of cost optimization initiatives and operating leverage benefits H1FY23: Revenue of Rs 351.3 crore with 57% YoY growth EBITDA of Rs 59.2 crore with EBITDA margin of 16.6% PAT grows to Rs 26.4 crore in H1FY23 vs Rs 3.5 crore in H1FY22 Company recorded its highest ever EBITDA & PAT in H1FY23 on the back of robust demand and focused marketing initiatives Strong revenue growth across offline and online channels Higher share of in-house brand sales continue to aid margin expansion EBITDA margin continues to expand on the back of cost optimization initiatives and operating leverage benefits Mr. Yashovardhan Saboo, Managing Director and Chairman, Ethos Limited said, “This quarter has again reinforced our belief in the strong growth that we witnessed over the last few quarters. It shows a consistent trend, that reflects the transformation of the Indian market for luxury watches, with Ethos as the reference. Our portfolio of brands and assortment of products, best-in-class customer services, globally competitive prices, and the trust that the Ethos name evokes are all coming together to create an environment of sustained growth and profitability.” Result PDF21-11-2022