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Metro Brands Q3 net profit declines 12.6% to Rs 98.78 crore

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The company’s total expenses rose 11.77% to Rs 515.53 crore in the December quarter

New Delhi: Footwear retail chain Metro Brands on Thursday reported a 12.57% decline in consolidated net profit to Rs 98.78 crore for the third quarter ended December 2023.

The company had posted a net profit of Rs 112.99 crore during the October-December period a year ago, according to a regulatory filing from Metro Brands Ltd (MBL).

However, its revenue from operations increased 6.14% to Rs 635.50 crore during the quarter under review against Rs 598.71 crore in the year-ago period.

MBL’s total expenses rose 11.77% to Rs 515.53 crore in the December quarter.

In a separate filing, MBL said its board in a meeting held on Thursday declared an interim dividend at Rs 2.75 per equity share on the face value of the paid-up equity shares of Rs 5 each for the FY 2023-24.

Shares of Metro Brands on Thursday settled at Rs 1,202 on the BSE, down 1.98% from the previous close.

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