Profit before tax (PBT) was at Rs 40.61 core in Q3 FY25, up 18.22% as compared with Rs 34.35 crore in Q3 FY24.

EBITDA jumped 23.6% to Rs 62.8 crore in Q3 FY25 as compared with Rs 50.8 crore in Q3 FY24. EBITDA margin fell to 16.7% in Q3 FY25 as against 17.7% in Q3 FY24.

Total billings jumped 31.4% to Rs 431 crore in Q3 FY25 as compared with Rs 328 crore in Q3 FY24. Digitally assisted sale stood at Rs 146.4 crore in Q3 FY25, up 53.9% as compared with Rs 95.1 rcore in Q3 FY24.

Total expenses jumped 32.21% to Rs 334.81 crore as compared with Rs 253.24 crore posted in corresponding quarter last year. Purchase of stock-in-trade stood at Rs 311.48 crore (up 39.09% YoY), employee benefit expense was at Rs 24.34 crore (up 48.96% YoY), finance cost stood at Rs 5.16 crore ( up 28.04% YoY) during the period under review.

Commenting on the results by Pranav Saboo – MD & CEO, said, “ EBITDA for Q3 FY25 increased by 23.6% to Rs 62.8 crore, compared to Rs 50.8 crore in Q3 FY24. Similarly, EBITDA for 9M FY25 grew by 22.8% to Rs 160.7 crore, up from Rs 130.9 crore in 9M FY24. EBITDA margins stood at 16.7% in Q3 FY25 (versus 17.7% in Q3 FY24) and 16.8% in 9M FY25 (versus 17.2% in 9M FY24). This slight margin contraction was due to higher costs associated with increased manpower for new store additions and rent for newly opened stores, which are still in the early stages of generating sales.

In Q3, we added 5 stores taking our count in 9MFY25 to 13 new stores and overall count to 73 stores. This year, the company entered three new cities—Dehradun, Kochi, and Mangaluru and the 2nd Duty-Free Store at Bengaluru Airport, bringing our presence to 26 cities

The implementation of the Graded Response Action Plan (GRAP) for pollution control in Delhi/NCR was in effect for 52 days. However, its impact on the construction and renovation of new boutiques extended to 75 days due to the intermittent imposition and lifting of restrictions. This unpredictability led to challenges in manpower deployment, as construction labour is fungible and often reassigned to other locations during periods of restriction. Consequently, the opening of seven new boutiques, including the renovation of the existing boutiques. Despite these challenges, we remain committed to our expansion strategy and aim to open six additional boutiques by the end of FY25, further strengthening our presence in key markets.

In line with our strategic focus, we have also signed six new exclusive brand partnerships since April, with additional collaborations in the pipeline. Revenue from exclusive brands contributed 29.7% of total revenue in Q3 FY25 and 29.5% in 9M FY25, underscoring the growing significance of this segment.”

Ethos is one of India's leading retailers of luxury and premium watches, established in 2003.