Ethos Ltd. Q3 FY25 Results: Key Financial Highlights, Future Outlook & More

Ethos Ltd., India’s largest luxury watch retailer, has released its Q3 FY25 results showing strong growth across all key areas. The company’s revenue grew to ₹369 crore, up 31.54% from last year, while net profit reached ₹29.48 crore, a 15.6% increase. These numbers reflect both the company’s growing market share and the overall strength of India’s luxury retail sector.

The financial results show that Ethos continues to build on its core business of premium watches while expanding into new areas like certified pre-owned watches and luxury accessories. 

This article breaks down the company’s Q3 performance and examines what these results mean for its future growth.

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Key Financial Highlights

Net Profit: Ethos reported a consolidated net profit of ₹29.48 crore in Q3 FY25, marking a 15.6% increase compared to ₹25.51 crore in the same quarter of the previous year.

Revenue: Revenue from operations saw a significant jump of 31.54% year-over-year, reaching ₹369.92 crore. The quarterly revenue for Dec-2024 was reported as Rs 377 Cr, a growth of 31.0%.

Profit Before Tax (PBT): PBT stood at ₹40.61 crore in Q3 FY25, up by 18.22% compared to the previous year. Excluding other income, the profit before tax reached Rs 34.86 crore, which is a significant increase compared to the average of the previous four quarters.

Earnings Per Share (EPS): The earnings per share peaked at Rs 12.05, indicating improved returns for shareholders.

Detailed Financial Performance

Ethos Ltd’s financial results for the quarter ending December 2024 indicate substantial improvements in several key areas. The company achieved its highest operating profit to interest ratio in five quarters, standing at 11.03 times, suggesting an enhanced capacity to manage interest obligations. Net sales also hit a five-quarter high of Rs 369.93 crore, reflecting a positive trend in sales performance.

However, interest expenses have risen to Rs 5.17 crore, the highest in five quarters, which may suggest increased borrowing.

Also read: Union Bank of India Q3 results FY25: Key Highlights

Ethos Quarterly Results 

Particulars (in ₹ Cr.)	Sep ’24	Jun ’24	Mar ’24	Dec ’23	Sep ’23
Net Sales/Income from operations	297.13	273.25	252.51	281.20	234.19
Total Income From Operations	297.13	273.25	252.51	281.20	234.19
P/L Before Tax	28.57	30.82	25.37	34.49	24.65
Net Profit/(Loss) For the Period	21.34	22.96	19.02	25.84	18.44

Ethos Share Price

On February 14, 2025, Ethos shares experienced notable trading activity  On the NSE, shares of Ethos Limited closed at ₹2,457.00 apiece, up 7.97%.

Source: Google Finance

Ethos’s promising future is supported by several factors:

1.  Continued strong demand in the premium and luxury watch space.

2.  Entry into the fast-growing CPO (Certified Pre-Owned) segment.

3.  Increasing share of high-margin exclusive brands.

4.  Diversification into the fast-growing luxury segments, such as luggage and jewellery.

5.  Notable headroom for margin and ROCE (Return on Capital Employed) expansion.

Conclusion 

Ethos Ltd.’s Q3 FY25 results reflect a period of strong financial performance and strategic growth. The company’s ability to increase revenue, profit, and EPS demonstrates its effectiveness in capitalising on market opportunities and managing its operations efficiently. 

While increased interest expenses pose a potential challenge, Ethos’s enhanced capacity to manage interest obligations, as indicated by its high operating profit to interest ratio, provides a buffer against these concerns. The positive outlook from analysts, along with the company’s strategic initiatives, suggests that Ethos is well-positioned for continued success in the luxury retail market.

Source: Business Standard