India's luxury watch retailer Ethos hits record high as profit surges

Ethos

27/07/2022 06:04

** Shares of luxury watch retailer Ethos  ETHO.NS  rise as
much as 11.9% to record high of 1,075 rupees
    ** Company on Tuesday reported a nearly 15x surge in
June-quarter profit, while revenue nearly doubled  urn:newsml:reuters.com:*:nFWN2Z702K
    ** Quarterly gross profit margin rose to 31.5% from 28.5%
    ** Higher share of inhouse brand sales continue to aid
margin expansion, company says
    ** Ethos made a weak debut in Mumbai market in May after a
tepid IPO  urn:newsml:reuters.com:*:nL4N2XM19O
    ** About 595,729 shares change hands, 17x 30-day avg of
34,424
    ** Ethos shares have risen 30% since its listing in May

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (Within U.S.
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