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Rakesh Jhunjhunwala-backed Metro Brands surges 20%; hits upper circuit limit after Q3 earnings

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Rakesh Jhunjhunwala-backed Metro Brands surges 20%; hits upper circuit limit after Q3 earnings

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The stock zoomed 19.99 percent to its upper circuit limit of Rs 609.45 on the BSE. At the NSE, it jumped 19.99 percent to its upper circuit limit of Rs 609.50.

Rakesh Jhunjhunwala-backed Metro Brands surges 20%; hits upper circuit limit after Q3 earnings
Shares of footwear retail chain Metro Brands on Monday surged 20 percent after the company reported a 54.63 percent jump in consolidated net profit for the third quarter ended December 2021.
The stock zoomed 19.99 percent to its upper circuit limit of Rs 609.45 on the BSE. At the NSE, it jumped 19.99 percent to its upper circuit limit of Rs 609.50.
Footwear retail chain Metro Brands has reported a 54.63 percent jump in consolidated net profit at Rs 100.85 crore for the third quarter ended December 2021.
The company had posted a net profit of Rs 65.22 crore during the October-December quarter of the previous fiscal, Metro Brands Ltd (MBL), earlier known as Metro Shoes, said in a regulatory filing.
Its total revenue from operations was up 59.02 percent at Rs 483.77 crore during the quarter under review, against Rs 304.21 crore in the corresponding period of the previous fiscal.
MBL's total expenses rose 47.26 percent to Rs 362.59 crore in Q3 FY 2021-22, compared to Rs 246.21 crore in the year-ago period.
MBL CEO Nissan Joseph said it was the best quarterly revenue, earnings before interest, taxes, depreciation, and amortization (EBITDA) and profit after tax (PAT) in the history of the company.
-With PTI inputs
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