17 January 2025, Mumbai
Leading footwear retailer Metro Brands registered a 4 per cent decline in Q3, FY25 net profit to Rs 95 crore ($11 million), as against Rs 99 crore in the year-ago quarter.
The company reported an 11 per cent rise in revenues for the quarter totaling Rs 703 crore, as against Rs 636 crore reported in the corresponding quarter of the previous fiscal year.
During this quarter, the company also launched its first Foot Locker store in India and the first kiosk for New Era. Additionally, Metro Brands also liquidated old FILA inventory and expects the second drop of India-manufactured merchandise by mid-February 2025.
Nissan Joseph, CEO, avers, Q3, FY 2025 reflects steady progress for Metro Brands as the brand built on the momentum of the festive season. The brand’s EBITDA increased by 13 per cent while PBT grew by 18 per cent, reflecting the bran’s continued focus on operational rigor. The launch of the Foot Locker store and New Era kiosk, combined with the brand’s strategic partnerships with celebrities, has enhanced its visibility and customer engagement. The brand remains committed to deliver continued value to its customers and stakeholders, he adds.
During the quarter, Metro Brands opened 24 new stores and closed two outlets. By the end of the quarter, the boasted a total store count of 895 outlets.
