Metro Brands Ltd reported a 126 percent increase in net profit to Rs 156 crore ($18.8 million) for the fourth quarter of financial year 2024, as against Rs 69 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 7 percent to Rs 583 crore, as against Rs 544 crore in the corresponding quarter of the previous fiscal year.
During the quarter, Metro Brands extended its retail agreement with Crocs India, granting exclusive rights to operate and own Crocs stores across the western and southern states in India.
Commenting on the results, Nissan Joseph, CEO of Metro Brands td in a statement said, “Despite the high base effect in FY 23 due to post Covid19 easing, I am pleased to see our sales grow by 11% YoY. Additionally, our sales per square foot have increased reflecting our successful adaptation to the new market conditions and the ongoing normalization post-Covid.”
“Our strategic initiatives and robust operational frameworks have enabled us to maintain our performance, ensuring that we continue to meet the needs of our customers and stakeholders effectively. We are confident that our agility and customer focused approach will continue to drive growth,” he added.
Metro Brands opened 97 stores for Metro, Mochi, Walkaway, Crocs and Fitflop to end the financial year with a store count of to 836 across India.
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