Metro Brands zooms 8.55% as net profit for FY22 shows exponential growth
Rakesh Jhunjhunwala backed Metro Brands witnessed a rally in Monday's trading session on the back of robust Q4 results.
At today’s intraday high of Rs 582.80, Metro Brands surged 8.55% and closed at Rs Rs 547.90 up 2.05% from the previous close.
On Friday, post market hours, the leading shoe brand declared its financial performance for the quarter and year ended on March 31, 2022. The company recorded income from operations at Rs 403.16 crore in Q4FY22 which is an increase of 26.26% YoY. EBIDTA of the company increased 52.86% on YoY and stood at Rs 129.84 crore. The company reported PAT of Rs 69.02 crore as against Rs 41.44 crore a year ago, which is an increase of 66.55%. EBITDA margins grew by 561 bps and stood at 32.21% and while PAT margins jumped by 414 bps at 17.12%.
In FY22, the revenue from operations stood at Rs 1342.93 crore which grew 67.85% compared to FY21. EBITDA grew by 138.5% at Rs 410 crore while PAT grew 231.4% YoY at Rs 214 crore. The footwear retailer added 87 new stores in the full year of FY22.
In its exchange filing on April 20, the company has also informed about the investment in Thaely Private Limited, a company engaged in the business of marketing and selling sustainable sneaker shoes in a cash acquisition for 5.03% of the equity stake for a total consideration of Rs 2.67 crore. The acquisition is expected to be completed by July 31, 2022, subject to the fulfilment of all the regulatory requirements.
“We had the best ever Q4 both in terms of top line and bottom line, capping off an exceptional year for Metro Brands Limited despite the numerous headwinds. We saw strong performance across all our store concepts, categories, and the cities that we operate in”, stated Nissan Joseph, CEO, Metro Brands.
Metro Brands retail footwear under its brands Metro, Mochi, Walkway, Da Vinchi and J. Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim, and Fitflop, which complement its in-house brands. Since, its muted debut on the bourses on December 22, 2021, the shares of Metro Brands have logged a gain of 25.66% to date.
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