Ethos shares surge nearly 20% as Q1 profit hits ₹28cr
Business
Ethos, the luxury watch retailer, saw its shares surge nearly 20% on Monday thanks to impressive first-quarter results.
Net profit shot up 47% to ₹28 crore, and revenue climbed 34% to ₹462 crore.
The stock even hit an intraday high of ₹3,090.4 before trading at ₹2,920, marking its biggest intraday single-day gain ever.
Ethos director Dilpreet Singh resigns
Ethos also shared that independent director Dilpreet Singh has stepped down for professional reasons.
The company has been growing steadily: last quarter saw a 33% bump in revenue but a small dip in net profit.
Ethos sells top international watch brands both online and in stores across India, making it a big name in the country's luxury market.