Metro Brands shares slip after posting Q3 results; PAT declines 3% YoY

Metro Brands shares declined 2.1 per cent in Friday's trade on BSE,  logging an intraday low at Rs 1,194 per share. The selling pressure in the stock came after the company posted its Q3FY25 results. 

 

Around 10:50 AM, Metro Brands shares were down 2.07 per cent at Rs 1,194.9 per share on BSE. In comparison, the BSE Sensex was down 0.86 per cent at 76,379.91. The market capitalisation of the company stood at Rs 32,334.68 crore. The 52-week high of the stock was at Rs 1,430.1 per share and the 52-week low was at Rs 992.65 per share. 

 

The company reported its Q3 results after market hours on Thursday. In its third quarter ended December 31, 2024, the company reported a net profit of Rs 95 crore as compared to Rs 98 crore a year ago, down 3 per cent year-on-year (Y-o-Y).  

 

Metro Brands revenue for the quarter under review stood at Rs 703 crore as compared to Rs 636 crore a year ago, up 10.6 per cent. 

 

As per the filing, during this quarter, the company expanded its retail footprint with the launch of its first Foot Locker store and the first kiosk for New Era, catering to a diverse and growing customer base. 

 

Additionally, Metro Brands completed the liquidation of old FILA inventory, and the second drop of India-manufactured merchandise is expected by mid-February 2025. During the nine months ending December 31, 2024, the company opened 61 new stores, offset by 4 closures during the same period. Consequently, the net new store openings for the current year will fall below the guidance of 100 stores. However, the company is committed to achieving an overall target of 225 store openings by FY26. 

 

Metro Brands remains focused on expanding its footprint, leveraging digital opportunities, and enhancing customer experiences as it gears up for a modest finish to FY 2025. 

 

Metro Brands is an Indian footwear specialty retailer.  In addition to men’s, women’s, and kid's footwear, it also has a wide range of handbags, belts, wallets, etc. The Metro footwear range is curated based on the regional sensitivity to cater to the needs of different regions. As of December 31, 2024, the Company operated 895 Stores across 203 cities spread across 31 states and union territories in India.

 

In the past one year, Metro Brands shares have lost 0.5 per cent against Sensex's rise of 7.7 per cent.