Metro Brands Limited, one of the largest Indian footwear specialty retailers, announced the Standalone and Consolidated Financial Results for the quarter ended 30th June 2023, the company on Tuesday announced through an exchange filing.
In Q1 FY 2023- 2024, Metro Brands Limited achieved standalone revenue of Rs 556 crores, representing a growth of 11.7 percent over the previous year with a strong 19.1 percent PAT margin, and a stable 35 percent EBITDA margin. The e-commerce segment registered its highest ever quarterly sales with 63 percent growth over last year and a CAGR of 71 percent over the last 4 years.
The company achieved an impressive increase in standalone EBITDA, reaching Rs 194 crores. This financial achievement stands as a testament to the company's dedication to operational efficiency and prudent financial management practices. In the context of demand experienced last year, the current quarter witnessed going against pent-up demand post-Covid and a higher number of wedding days in the same period last year.
The company has opened 27 new stores, expanding its presence to 182 cities (8 new cities covered in Q1 FY 2023 -24). It remains dedicated to continuous growth, seeking opportunities to create value for both customers and shareholders.
"I am pleased with our results as we finally entered a normalized quarter for the retail business. We experienced remarkable growth, surpassing pre-pandemic performance by 82 percent. Embracing the digital landscape allowed us to expand our reach and explore new markets with new brick and mortar stores and e-commerce channels. We remain confident in our strategic positioning of focusing on the premium consumer to drive growth,” said Nissan Joseph, CEO, Metro Brands Limited.
Metro Brands Limited shares
The shares of Metro Brands Limited on Tuesday at 3:30pm IST were at Rs 1,043.55, up by 0.92 percent.