The company has posted an EBITDA of Rs 41.5 crore with EBITDA margin of 17.3% in Q2 FY24. For the corresponding period last fiscal, EBITDA and EBITDA margin were Rs 29.7 crore and 16.4%, respectively.

Profit before tax in Q2 FY24 stood at Rs 24.9 crore, up by 36.8% from Rs 18.2 crore in Q2 FY23.

The company stated that the growth in quarterly EBITDA & PAT in Q2 FY24 on the back of robust demand and focused marketing initiatives. It has recorded 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.

Pranav Saboo, chief executive officer, Ethos, states: "In the preceding quarter, Ethos has seen substantial growth, both in terms of revenue and profitability. Our unwavering commitment to generating value for our diverse stakeholders is underpinned by a steadfast confidence in the robustness of the Indian economy - as we strategically diversify our portfolio with leading global brands and bring them closer to the Indian market."

Ethos is India’s largest chain of luxury watch boutiques with 60 stores in India across 23 cities, and over 60 premium luxury watch brands.