Shares of Ethos hit a 52-week high of Rs 2,144 on 15 November after the company announced its earnings for the July-September quarter and store expansion plans. 

The company’s net profit was Rs 18.59 crore for the quarter under review, a 37.2% year-over-year increase from the Rs 13.55 crore reported in the same quarter of the previous fiscal year.

In its quarterly earnings, the company reported a 32.4% year-on-year (YoY) increase in revenue, to Rs 235.2 crore for the quarter from Rs 177.7 crore reported in the year-ago quarter. 

On the operating front, EBITDA (earnings before interest, taxes, depreciation and amortisation) stood at Rs 37.24 crore, a 43% increase from the Rs 26.05 crore reported in the same quarter last year. The EBITDA margins expanded to 15.8% during the quarter from 14.7% reported in Q2FY23. 

In its regulatory filing, the company also announced its plans to expand its jewellery and luggage business and increase the average selling price. It said it will have more exclusive brands and focus on improving the growth share from pre-owned watches. 

Earlier in November, the company launched a QIP (Qualified Institutional Placement) to raise Rs 125 crore. 

At 3:30 pm, the shares of Ethos closed 4.74% higher at Rs 2,019 on NSE.