Metro Brands shares dropped nearly 2% after the company reported second-quarter results below market expectations. The footwear retailer posted a consolidated net profit of ₹69.55 crore for the quarter ending September 30, a modest 4% increase compared to the same period last year. Analysts had expected a net profit of ₹76.74 crore, according to LSEG data.
Revenue from operations grew 5% year-on-year to ₹585 crore, while expenses rose by 7.9% to ₹515 crore, impacting overall profitability. This marks the fourth consecutive quarter where Metro Brands has recorded sub-10% revenue growth.
As of 9:33 am, the shares were trading 1.56% lower at ₹1,161.20 on NSE.
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