Last Updated on Jan 17, 2022 by Aradhana Gotur
On the back of strong Q3 results, footwear retail chain Metro Brands (MBL) hit the 20% upper circuit limit of Rs. 609.50 apiece on NSE. The company reported a 54.63% jump in its consolidated net profit at Rs. 100.85 cr. for the quarter under review. In the same quarter last fiscal, the company had posted a net profit of Rs. 65.22 cr.
Further, its total revenue from operations was up 59.02% y-o-y at Rs. 483.77 cr. MBL’s total expenses increased 47.26% y-o-y to Rs. 362.59 cr. against Rs. 246.21 cr. a year ago.
As per CEO Nissan Joseph, the quarter was the best in terms of quarterly revenue, EBITDA, and PAT in the company’s history. He said, “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.”
As of 31 December 2021, Metro Brands operated 629 stores across 140 cities in India.
