MUMBAI: Footwear retailer Metro Brands announced its standalone and consolidated financial results for the quarter ending 31 December 2024 which showcased robust growth, largely driven by the festive and wedding seasons.
The company recorded a standalone revenue of Rs 688 crore, reflecting a year-on-year sales growth of 10 per cent. The EBITDA margin stood at 32.6 per cent with a profit after tax (PAT) margin of 13.7 per cent. Notably, the PAT figure includes a one-time tax charge of Rs 25 crore resulting from the reconciliation and reassessment of tax liabilities, mainly related to the Fila business.
During the quarter, Metro Brands expanded its retail presence with the launch of its first Foot Locker store and a new kiosk for New Era, catering to an increasingly diverse customer base. The company also enlisted celebrities Triptii Dimri and Vijay Varma for its Metro Shoes line, alongside Shanaya Kapoor and Vedang Raina for Mochi, which bolstered brand visibility and contributed to growth.
Metro Brands liquidated its old Fila inventory during this period and is set to release a second drop of India-manufactured merchandise by mid-February 2025.
Over the nine months ended 31 December 2024, the company opened 61 new stores while closing four bringing total net new openings below the initial guidance of 100 for the year. However, the company remains committed to its overall target of establishing 225 new stores by FY 2026.
Said CEO Nissan Joseph: "The third quarter of FY 2025 reflects steady progress for Metro Brands as we build on the momentum of the festive season. With an 18 per cent increase in PBT and a 13 per cent rise in EBITDA, our focus on operational rigor is yielding results. The successful launch of the Foot Locker store and New Era kiosk, along with our celebrity partnerships, have enhanced our brand visibility and customer engagement. We are optimistic about our initiatives and remain dedicated to delivering value for our customers and stakeholders as we approach the final quarter of the year."
