Metro Brands Q1 Results: Net Profit Declines By 1% To Rs 92.27 Crore

Metro Brands Ltd. reported on Friday a 1% year-on-year decline in net profit for the first quarter of this financial year.

The footwear brand recorded a net profit of Rs 92.27 crore for the quarter-ended June, as compared to Rs 93.50 crore in the same quarter of the previous fiscal, according to its stock exchange notification.

Revenue decreased by 1.1% year-on-year for the three months ended June, reaching Rs 576.08 crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, declined 3% year-on-year to Rs 180.37 crore. The Ebitda margin was 31.3%.

The first quarter of fiscal 2024–25 experienced muted growth primarily because of significantly lower wedding dates this quarter compared to the first quarter of last year, a loss of business days due to elections and subdued footfall due to an intense heatwave, as per the exchange filing. During the quarter, 17 new stores were opened.

On August 8, Metro Brands announced a new long-term partnership with New Era Cap, the renowned American headwear brand based in New York and a leader in sports fashion. This collaboration aims to strengthen New Era's retail footprint in India while supporting Metro Brands' growth in the athleisure market.

Shares of Metro Brands closed 0.44% higher at Rs 1,344 apiece, as compared to a 1.04% advance in the BSE Sensex.