Metro Brands announced that its consolidated net profit increased 11.2% to Rs 113 crore on 23.8% rise in revenue from operations to Rs 599 crore in Q3 FY23 over Q3 FY22.
Profit before tax stood at Rs 152.11 crore in Q3 FY23 as compared to Rs 133.19 crore in Q3 FY22.Profit after tax margin stood at 18.9% in Q3 FY23 as against 21% in Q3 FY22.
EBITDA rose 21.8% YoY to Rs 205 crore in Q3 FY23. While EBITDA margin stood at 34.3% in Q3 FY23 as against 34.9% in Q3 FY22.
Total expense increased by 27.2% to Rs 461.23 crore in Q3 FY23 as compared to Rs 362.59 crore in same quarter last year. Employee benefit expense stood at Rs 49.61 crore (up 48.8% YoY), finance cost was at Rs 17.27 crore (up 40.18% YoY).
As on 31 December 2022, 48 new stores opened which is a highest ever new store opening per quarter till date.
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Nissan Joseph, CEO , Metro Brands, said, "Our investments in people and processes enabled us to open a record 48 net new stores in the quarter across our portfolio of brands building on the premium positioning of our brands while continuing to grow our digital commerce sales."
The board of directors declared interim dividend of Rs 2.50 per equity share. The record date for the same is fixed on 28 January 2023.
Metro Brands is a retailer in fashion footwear, bags and accessories operating in the premium and economy category.
The scrip was down 0.10% to Rs 846.35 on the BSE.
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