Mukul Agrawal-Backed Small Cap Stock Surges 11% As Profits Grew 36% In Q2

Shares of Ethos surged up over 11% to hit a new 52-week high of ₹2,143.95 on Wednesday morning.

What Happened: The luxury watch retailer reported its results for the quarter ended September on Tuesday. The company’s standalone net profits for the quarter stood at ₹18.44 crore, up 36.5% from the ₹13.51 crore profit booked in the same quarter last year.

The company’s revenue from operations came in at ₹234.18 crore, a 31% increase from the ₹177.72 crore posted in the year-ago period. Earnings per share for the quarter was at ₹7.90.

The strong results helped the stock continue making gains for the fifth straight session. The Mukul Agrawal-backed has been on a strong bull run this year. The Ethos share price has gone up over 100% since the start of the year. Agrawal owns a 2.74% stake in the company that is worth around ₹135 crore.

Ethos share price trajectory.

Price Action: Ethos’ share price was up 9.54% to trade at ₹2,111.45 in the early hours of trade on Wednesday.

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Posted In: EarningsEquitiesNewsMarketsMoversTrading IdeasEthosMukul Agrawal