Soft earnings; recovery likely in FY25

Company
23 Jan 2024
5 Min read 
  • Metro Brands reported weak revenue growth of 6% YoY due to a decline in same-store sales.
  •  The company added net 23 stores in 3QFY24, taking the total store count to 840.
  •  Gross profit increased by 7% YoY, while EBITDA witnessed a decline of 3% YoY.
  •  PAT declined by 13% YoY, primarily due to losses from CBL.
  •  The management has reiterated its guidance for gross margins, EBITDA margin, and NP margin.
  •  Expect a recovery in earnings in FY25 and a CAGR of 22%/32% in revenue/PAT over FY24-26.
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