Metro Brands December Quarter Profit Rises 54% To Rs 100.85 Crore

New Delhi: Metro Brands, the footwear retail chain, reported a 54 per cent leap in consolidated web revenue to Rs 100.85 crore for the third quarter interval ended December 2021.The firm had posted a web revenue of Rs 65.22 crore throughout the corresponding interval of final yr. Metro Brands Ltd (MBL), earlier generally known as Metro Shoes, gave this info in a regulatory submitting.Its complete income from operations was up 59.02 per cent at Rs 483.77 crore throughout the quarter underneath evaluation towards Rs 304.21 crore within the corresponding interval of the earlier fiscal.MBL's complete bills rose 47.26 per cent to Rs 362.59 crore in Q3 FY 2021-22, in comparison with Rs 246.21 crore within the year-ago interval.MBL CEO Nissan Joseph stated it was the very best quarterly income, EBITDA and PAT within the historical past of the corporate."We also are encouraged by the growth we have witnessed across the multiple Tiers of cities that we operate in and the continued growth of our e-commerce and omnichannel business," he added.As of December 31, 2021, MBL operated 629 shops throughout 140 cities in India.On the present state of affairs, Joseph stated: "We closely monitor the potential disruptions of the current COVID situation and are ready to respond to local regulations, which may impact our locations, while keeping the safety of our customers and associates as a priority".MBL had raised Rs 295 crore by means of the preliminary public provide in December final yr.Meanwhile, MBL, in a separate submitting, had on Friday knowledgeable to enter right into a strategic partnership with wellbeing footwear model FitFlop for the Indian market.FitFlop was launched in 2007 by Canadian entrepreneur Marcia Kilgore, and its footwear is at the moment being marketed and offered in over 60 nations globally.FitFlop's footwear is biomechanically engineered, designed to enrich physique construction, joint alignment and pure motion.MBL can also be the nationwide retail accomplice for Crocs in India and operates 159 shops.