New Delhi: Footwear Retail Chain Metro Brand The consolidated net profit for the third quarter ended December 2021 has registered a growth of 54.63% at Rs 100.85 crore.
The company had posted a net profit of Rs 65.22 crore during the October-December quarter of the last fiscal, Metro Brands Ltd (MBL), formerly known as Metro Shoes, said in a regulatory filing.
Its total revenue from operations grew 59.02% to Rs 483.77 crore during the quarter under review, as against Rs 304.21 crore in the corresponding period of the previous fiscal.
MBL’s total expenses grew 47.26% to Rs 362.59 crore in the third quarter of FY 2021-22, as against Rs 246.21 crore in the year-ago period.
MBL CEO Nissan Joseph said it had the best quarterly revenue, EBITDA and PAT in the company’s history.
“We’re also encouraged by the growth in multiple levels of the cities we operate in and the continued growth of our e-commerce and omnichannel business,” he added.
As of December 31, 2021, MBL operated 629 stores in 140 cities in India.
on the current situation, Yusuf Said: “We closely monitor potential disruptions to the current COVID situation and are prepared to respond to local regulations that may affect our locations by putting the safety of our customers and associates as a priority” .
MBL had raised Rs 295 crore through an initial public offer in December last year.
Meanwhile, MBL in a separate filing on Friday had informed about forging a strategic partnership with the wellbeing footwear brand fitflop For the Indian market.
FitFlop was launched in 2007 by a Canadian entrepreneur marcia kilgore, and its shoes are currently manufactured and sold in more than 60 countries globally.
“Metro brands have been selling FitFlops in India for the last four years and with this agreement, Metro Brands has decided to sell FitFlops to the Indian markets in all formats including exclusive brand stores, multi-brand stores, airport stores, distribution , online marketplace and webstore in India,” MBL had said in a statement.
FitFlop’s footwear is biomechanically engineered, designed to complement body structure, joint alignment and natural motion.
MBL is also the national retail partner of Crocs in India and operates 159 stores.
The company had posted a net profit of Rs 65.22 crore during the October-December quarter of the last fiscal, Metro Brands Ltd (MBL), formerly known as Metro Shoes, said in a regulatory filing.
Its total revenue from operations grew 59.02% to Rs 483.77 crore during the quarter under review, as against Rs 304.21 crore in the corresponding period of the previous fiscal.
MBL’s total expenses grew 47.26% to Rs 362.59 crore in the third quarter of FY 2021-22, as against Rs 246.21 crore in the year-ago period.
MBL CEO Nissan Joseph said it had the best quarterly revenue, EBITDA and PAT in the company’s history.
“We’re also encouraged by the growth in multiple levels of the cities we operate in and the continued growth of our e-commerce and omnichannel business,” he added.
As of December 31, 2021, MBL operated 629 stores in 140 cities in India.
on the current situation, Yusuf Said: “We closely monitor potential disruptions to the current COVID situation and are prepared to respond to local regulations that may affect our locations by putting the safety of our customers and associates as a priority” .
MBL had raised Rs 295 crore through an initial public offer in December last year.
Meanwhile, MBL in a separate filing on Friday had informed about forging a strategic partnership with the wellbeing footwear brand fitflop For the Indian market.
FitFlop was launched in 2007 by a Canadian entrepreneur marcia kilgore, and its shoes are currently manufactured and sold in more than 60 countries globally.
“Metro brands have been selling FitFlops in India for the last four years and with this agreement, Metro Brands has decided to sell FitFlops to the Indian markets in all formats including exclusive brand stores, multi-brand stores, airport stores, distribution , online marketplace and webstore in India,” MBL had said in a statement.
FitFlop’s footwear is biomechanically engineered, designed to complement body structure, joint alignment and natural motion.
MBL is also the national retail partner of Crocs in India and operates 159 stores.
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