Metro Brands makes net profit of Rs 106 cr in Q1; two-fold increase in revenue

Multi-brand footwear retail chain Metro Brands Ltd on Friday reported a consolidated net profit after tax of Rs 105.78 crore for the quarter ended June.

Metro Brands Ltd said in a regulatory filing that the company had reported a net loss after tax of Rs 12.13 crore during the January-March quarter last year.

Metro Brands’ total revenue from operations during the quarter under review was more than two times at Rs 507.95 crore, as against the low base of the same quarter hit by the pandemic. It was Rs 131.39 crore in the first quarter of FY 2011.

Its total expenses in the June quarter of FY23 increased two-fold to Rs 377.51 crore. It was Rs 159.59 crore in the same period a year ago.

Nissan Joseph, CEO of Metro Brands, said: “Q1 has been an excellent start to our new fiscal year as we set new records in revenue, EBITDA and PAT. We have seen the business continue the momentum we have taken. Saw in Q3 of FY22, has remained through Q4 and has now become our strongest quarter in our history of Metro Brands.”

On Friday, shares of Metro Brands Limited closed 0.31 per cent higher at Rs 639.25 on the BSE.

(Only the title and image in this report may have been reworked by Business Standard staff; the rest of the content is generated automatically from a syndicated feed.)

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