Metro Brands Ltd on 1 August reported a consolidated net profit of Rs 93.50 crore for the June quarter of FY24, down 11.6 percent from Rs 105.78 crore in the same quarter last year.
The total revenue of the company stood at Rs 582.52 crore, rising 14.6 percent from Rs 507.95 crore registered in the year-ago quarter, the company said in a regulatory filing.
"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." said Mr. Nissan Joseph, CEO, Metro Brands Limited.
The company's 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 said in a press release.
The company has opened 27 new stores, expanding its presence to 182 cities with 8 new cities covered in Q1 FY 2023 -24. As of June 30, 2023, the Company operated 766 Stores across 182 cities spread across 31 states and union territories in India. The company remains dedicated to continuous growth, seeking opportunities to create value for both customers and shareholders.
On 1 August, share price of Metro Brands closed 0.92 percent higher at Rs 1043.55 on NSE.
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