Metro Brands reports a 12.38% decline in Q3 FY24 net profit due to increased expenses and slower sales, causing its shares to drop 6%. The revenue from operations in the quarter recorded 6.17% YoY growth, reaching ₹636 crore.
The right store size, a wide product portfolio with upcoming Fila and Foot Locker, and premiumization will help Metro Brands achieve healthy store economics.
Shares of Metro Brands ended 3.77% higher at Rs 1,127.85 on BSE in the previous trading session. They also hit an all-time high of Rs 1147.80 on Friday
Stocks to watch today: Indian stock market is expected to remain sideways on the back of mixed cues from global as well as domestic markets. Adani Enterprises, APL Apollo Tubes, Tata Motors, Ashok Leyland, Titagarh Rail Systems among stocks to watch on Friday (September 1, 2023).
Rakesh Jhunjhunwala, often referred to as Warren Buffett of India, was one of India’s most successful investors. He passed away on August 14, 2022, leaving behind a rich legacy. Watch this Visual Story to see how his portfolio has performed since his demise.