Metro Brands Q3 net profit rises 55 percent to Rs 101 crore

By

Maverick Martins

Published
Jan 17, 2022

Footwear retail chain Metro Brands witnessed a 55 percent rise in consolidated net profit to Rs 101 crore ($13.6 million) for the third quarter ended December 2021, as against Rs 65 crore in the year-ago period.
 

The company’s revenue for the quarter rose by 59 percent to Rs 484 crore, as against Rs 304 crore it reported in the corresponding period of the previous fiscal year.
 
The total expenses for the quarter also jumped by 47 percent to Rs 363 crore, compared to Rs 246 crore in the year-ago period.

Commenting on the Q3 results, Nissan Joseph, CEO of Metro Brands Ltd in a statement said, “This was the best quarterly revenue, EBITDA and PAT in the history of the company. We also are encouraged by the growth we have witnessed across the multiple tiers of cities that we operate in and the continued growth of our e-commerce and omnichannel business.”
 
“We closely monitor the potential disruptions of the current Covid situation and are ready to respond to local regulations, which may impact our locations, while keeping the safety of our customers and associates as a priority,” he added.
 
Metro Brands Ltd ended the third quarter with a store count of 629 across 140 cities in India.