Leading shoe retailer Metro Brands Limited reported a 4 per cent drop in net profit to US $ 11 million from US $ 11.43 million in the same quarter last year. Compared to the US $ 73.45 million recorded in the same quarter of the previous fiscal year, the company’s revenue for the quarter increased by 11 per cent to US $ 81.2 million.
The company opened the first Foot Locker store in India and the first New Era kiosk during this quarter. Metro Brands also finished selling off its old FILA inventory, and by mid-February 2025, they anticipate the second shipment of goods made in India.
Nissan Joseph, CEO of Metro Brands Ltd, commented on the results, stating that the third quarter of FY 2025 shows steady progress for the company as it capitalises on the momentum from the festive season. He expressed satisfaction with the 13 per cent growth in EBITDA and 18 per cent increase in PBT, highlighting the company’s continued focus on operational efficiency.
At the end of the quarter, Metro Brands Ltd. had 895 stores, having closed two locations and built 24 new ones.
