India's Ethos slides 14% on contraction in Q4 core profit margin

Ethos

15/05/2023 09:33

** Shares of Ethos Ltd  ETHO.NS  fall as much as 14.06%,
steepest intraday pct decline ever, to 1,207.60 rupees
    ** Company, which deals in trading luxury watches and
accessories, reports a contraction in core profit margins in
March quarter to 12.25% from 13.29% in the corresponding quarter
a year earlier
    ** Net profit rises 69% YoY to 132.84 mln rupees, but falls
36% sequentially
    ** Revenue also clocks 31% Y/Y growth and 9.6% Q/Q decline
to 2.08 bln rupees 
    ** Trading volume is 708,932 shares as of 1:58 p.m. IST,
eight times the 30-day avg - Refinitiv data
    
    
    
 ($1 = 81.7800 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))