Across 136 locations spanning over 30 states and union territories in India, Metro Brands operates 598 Shops. With the third-highest number of exclusive retail locations in India, Metro Brands focuses on the mid-priced, premium, and economy segments of the footwear industry.
Financial Results:
The footwear retailer has recorded a 10.8 percent on-year growth in consolidated profit at INR 113 crore for the quarter, but profit margin contracted by more than 2 percentage points to 18.9 percent.
Consolidated revenue for the December quarter of FY23 came in at INR 599 crore, up 24 percent, with 48 stores opening in the period under review, which was the highest ever store openings in a quarter till date, Metro Brands said in a BSE filing on Tuesday.
As of December 2022, the company operated 720 stores across 164 cities spread across 30 states and Union Territories in India.
At the operating level, consolidated EBITDA (earnings before interest, tax, depreciation and amortization) increased 21.3 percent on-year to INR 205 crore in October-December period of FY23, but the margin fell by 60 bps YoY to 34.3 percent for the quarter.