Jhunjhunwala-backed Metro Manufacturers zooms 14% on sturdy present in Q3


New Delhi: Shares of lately listed Metro Brands zoomed as a lot as 14 per cent throughout early commerce on Monday following a powerful efficiency within the December quarter earnings.

The footwear retail chain reported a 54.63 per cent year-on-year (YoY) soar in consolidated internet revenue to Rs 100.85 crore for the third quarter ended December 2021. The corporate had posted a internet revenue of Rs 65.22 crore throughout the October-December quarter of the earlier fiscal.

Following the replace, shares of Metro Manufacturers zoomed 14 per cent to Rs 578.75, earlier than buying and selling at Rs 582.40 at 9.35 am. The scrip had settled at Rs 507.90 on Friday. Benchmark index and BSE Sensex was buying and selling merely 10.95 or 0.02 per cent decrease at 61,212.08 or virtually flat on the time of scripting this report.

Its whole income from operations was up 59.02 per cent at Rs 483.77 crore throughout the quarter beneath assessment in opposition to Rs 304.21 crore within the corresponding interval of the earlier fiscal, in accordance with the regulatory submitting.

Metro Manufacturers, an Indian footwear specialty retailer has signed an unique strategic partnership with FitFlop, on the market and distribution in India.

Rakesh Jhunjhunwala-backed firm was listed on December 22 on the bourses. The corporate raised Rs 1,367.5 crore by way of its IPO. It offered shares within the vary of Rs 485-500 apiece throughout December 12-14.

Established in 1955, Metro Manufacturers is without doubt one of the largest Indian footwear specialty retailers in India. Metro Manufacturers additionally supply equipment akin to belts, luggage, socks, masks, and wallets, at their shops.

Among the firm’s well-known manufacturers embody Metro, Mochi, Walkway, Da Vinchi, and J. Fontini, in addition to sure third-party manufacturers akin to Crocs, Skechers, Clarks, Florsheim, and Fitflop.

As of December 31, 2021, Metro Manufacturers operated 629 shops throughout 140 cities in India. It is usually the nationwide retail associate for Crocs in India and operates 159 shops.

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