Metro Brands Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 30, 2023
January 18, 2024 at 07:29 am EST
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Metro Brands Limited reported earnings results for the third quarter and nine months ended December 30, 2023. For the third quarter, the company reported sales was INR 6,355 million compared to INR 5,987.1 million a year ago. Revenue was INR 6,514.5 million compared to INR 6,133.4 million a year ago. Net income was INR 978.1 million compared to INR 1,119.5 million a year ago. Basic earnings per share from continuing operations was INR 3.6 compared to INR 4.12 a year ago. Diluted earnings per share from continuing operations was INR 3.58 compared to INR 4.1 a year ago.
For the nine months, sales was INR 17,737.2 million compared to INR 15,829.7 million a year ago. Revenue was INR 18,201.9 million compared to INR 16,186.4 million a year ago. Net income was INR 2,573.4 million compared to INR 2,929.6 million a year ago. Basic earnings per share from continuing operations was INR 9.47 compared to INR 10.79 a year ago. Diluted earnings per share from continuing operations was INR 9.43 compared to INR 10.74 a year ago.
Metro Brands Limited is an India-based footwear and accessories specialty retailer. The Company retails a range of branded products for men, women, unisex and kids, and for every occasion including casual and formal events. The Company offers products under its own brands, such as Metro, Mochi, Walkway, Da Vinchi and J. Fontini, as well as other third-party brands such as Crocs, Skechers, Clarks and Fitflop, Proline, Fila, Fila. The Company operates approximately 739 stores across 174 cities spread across 31 states and union territories in India. The Company also offers accessories, such as belts, bags, socks, masks, wallets, foot care and shoe care products. It distributes its products through its websites, various e-commerce marketplaces as well as through social media platforms. Its retail operations are carried out through its stores and distributors as well as through online channels. The Company's subsidiary is Metmill Footwear Private Limited and Metro Atleisure Limited.