Net sales stood at Rs 544.13 crore during the quarter ended 31 March 2023, registering a growth of 35% on YoY basis.

Consolidated profit before tax rose marginally to Rs 94.59 crore in Q4 FY23 from Rs 93.97 crore recorded in Q4 FY22.

Consolidated EBITDA grew 10.8% YoY to Rs 144 crore during the period under review. EBITDA margin reduced to 26.5% in Q4 FY23 as against 32.3% in Q4 FY22.

On full year basis, the footwear company reported 70.8% surge in consolidated net profit to Rs 361.45 crore on 58.4% jump in net sales to Rs 2,127.10 crore in the financial year ended 31 March 2023 over the financial year ended 31 March 2022.

The company said that it has achieved highest‐ever gross margin of 58.6% in FY23and also attained its highest EBITDA margin which stood at 33.2% for FY23.

Commenting on the performance, Nissan Joseph, CEO of Metro Brands said, “In FY 2022‐23, we achieved a record‐breaking milestone by opening 115 stores, further solidifying our presence in the market. We surpassed the benchmark of Rs 2,000 crore in revenue, while simultaneously enhancing our overall profitability metrics in this fiscal year. The discerning affinity exhibited by consumers towards our premium products has been highly gratifying, resulting in a steady growth in the average selling price (ASP). As we progress, we are observing a moderation in near‐term sales growth, as we transition from the initial surge due to pent‐up demand observed between October 2021 and June 2022.”

The board declared a final dividend of Rs 1.50 per equity share for the financial year ended 31 March 2023, subject to the approval of the shareholders.

Metro Brands is one of the India's largest footwear retailers and is among the aspirational Indian brands in the footwear category. The company opened its first store under the Metro brand in Mumbai in 1955 and has since evolved into a one-stop shop for all footwear needs. As of March 31, 2023, the company operated 739 Stores across 174 cities spread across 31 states and union territories in India.