Metro Brands Ltd Q2 net profit increases 4 percent to Rs 70 crore

Footwear major Metro Brands Ltd reported a 4 percent rise in net profit at Rs 70 crore ($8.4 million) for the second quarter ended September 30, as against Rs 67 crore in the year-ago quarter.

The company’s revenue for the quarter increased by 5 percent to Rs 585 crore, as against Rs 556 crore in the corresponding quarter of the previous fiscal year.

During the quarter, Metro Brands opened the largest Crocs Store in Kerala and also launched American footwear brand ‘Hey Dude’ in India at 25 locations through its extensive retail network.

Commenting on the quarter’s performance, Nissan Joseph, CEO of Metro Brands Ltd in a statement said, “During the Q2 FY 2025 we have maintained stable profitability and strengthened our operational control, demonstrating the resilience of our business model.”

“We will continue to focus on strategic execution and innovative retail formats and strategic partnerships like the upcoming New Era Kiosk and the Hey Dude launch, while driving sustained growth and unlocking new opportunities in the evolving footwear market,” he added.

Metro Brands is one of the largest Indian footwear retailers with 871 stores in 31 states across India. It has added 35 stores in the current financial year and plans to open 75 more stores by March 31, 2024.