Medilytix Bureau:

Footwear retailer Metro Brands on Saturday reported a 53.3 per cent year-on-year (YoY) rise in consolidated net profit for October-December quarter at Rs 102 crore.

The company’s revenue grew 59 per cent to Rs 484 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 69.8 per cent to Rs 169 crore.

EBITDA margin stood at 34.9 per cent during the quarter under review as compared to 32.7 per cent in the year-ago quarter.

“Q3 FY22 was the first quarter post Mar’20 without any major Covid related restrictions. Robust recovery in customer sentiments witnessed since Aug21 continued in Q3 FY22 – Helping us register our best ever quarterly sales,” the company said in a release.

The company, which recently made its debut on the stock exchanges, said that store expansion gathered pace during the December quarter, with 39 new stores being opened — the highest ever new store openings per quarter.

Metro Brands said that the growth momentum in e-commerce sales (including omni-channel sales) continued during the quarter with 69 per cent growth, while it achieved strong gross margins due to lower contribution of discount sales and improvement in overall sales mix. “In coming quarters, overall gross margins to normalize back to around ~ 55-56% levels (average seen over last few years),” it said.

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