Metro Brands Ltd Q3 net profit decline 4 percent to Rs 95 crore

Metro Brands Limited, a leading footwear retailer reported a 4 percent decline in net profit to Rs 95 crore ($11 million), as against Rs 99 crore in the year-ago quarter.

The company’s revenue for the quarter rose by 11 percent to Rs 703 crore, as against Rs 636 crore reported in the corresponding quarter of the previous fiscal year.

During this quarter, the company launched the first Foot Locker store in India and the first kiosk for New Era.

Additionally, Metro Brands completed the liquidation of old FILA inventory and expects the second drop of India-manufactured merchandise by mid-February 2025.

Commenting on the results, Nissan Joseph, CEO of Metro Brands Ltd in a statement said, “The third quarter of FY 2025 reflects steady progress for Metro Brands as we build on the momentum of the festive season. I am pleased with the growth of 13% EBITDA and an 18% in PBT growth reflecting our continued focus on operational rigour.”

“The launch of the Foot Locker store and New Era kiosk, combined with our strategic partnerships with celebrities, has enhanced our brand visibility and customer engagement. We remain optimistic about our initiatives and are committed to delivering continued value for our customers and stakeholders as we move into the final quarter of the year,” he added.

During the quarter, Metro Brands Ltd opened 24 new stores and closed to 2 stores to end the quarter with a store count of 895 stores.