New Delhi: The Retail Chain of the Metro Brand Shoes has reported a 54.63% surge in consolidated net profit to Rs 100.85 Crore for the third quarter which ended December 2021.
The company has posted a Net Profit of Rs 65.22 Crore in the previous October quarter of Fiscal, Metro Brands Ltd (MBL), formerly known as Metro Shoes, said in the submission of regulations.
Total revenue from operations rose 59.02% at Rs 483.77 Crore during the quarter reviewed against Rs 304.21 Crore in the period in accordance with the previous fiscal.
The total cost of MBL rose 47.26% to RS 362.59 Crore at Q3 FY 2021-22, compared with RS 246.21 Crore in the last year period.
MBL CEO Nissan Joseph said it was the best quarterly income, EBITDA and PAT in the history of the company.
“We are also driven by the growth we witnessed across the various levels of the city that we operate and the advanced growth of our e-commerce and omnichannel business,” he added.
On December 31, 2021, MBL operated 629 stores in 140 cities in India.
In the current situation, Joseph said: “We greatly monitor the potential disorders of the Covid situation at this time and are ready to respond to local regulations, which can have an impact on our location, while maintaining our customer security and partners as a priority”.
MBL has collected Rs 295 Crore through an initial public offering in December last year.
Meanwhile, MBL, in separate archiving, has been informed on Friday to enter the strategic partnership with the Wellbeing Footwear Brand Fitflop for the Indian market.
Fitflop was launched in 2007 by Canadian businessman Marcia Kilgore, and his footwear is currently being marketed and sold in more than 60 countries globally.
“The Metro brand has sold FitFlop in India for the past four years and with this agreement, the Metro brand has secured exclusive rights for fitflop sales for the Indian market throughout the format, including exclusive brand stores, airport shops, distribution, online markets and web stores In India, “MBL said in a statement.
Fitflop footwear biomechanically engineered, designed to complement the body structure, joint alignment and natural movement.
MBL is also a national retail partner for Crocs in India and operates 159 stores.