Metro Brands Declares Interim Dividend Of Rs 3 Per Share, Special Dividend Of Rs 14.5 Per Share

The board of Metro Brands Ltd. on Friday declared an interim dividend of Rs 3 per share, along with a special dividend of Rs 14.5 per share, for the financial year 2024-25.

This takes the footwear company's cumulative dividend announcement to Rs 17.5 per share.

The board of directors "considered and declared for the FY 2024- 25, Interim Dividend of Rs 3.00/- per equity share and a Special Dividend of Rs 14.50/- per equity share having face value of Rs 5/- each", an exchange filing stated.

The record date for both interim and special dividend is set as March 7 and the payment for the same will be done within 30 days from the date of declaration, the filing added.

In the quarter ended December 2024, the company's net profit slipped to Rs 95.1 crore, representing a 3.7% fall as compared to Rs 98.8 crore for the same period last year, as per the consolidated financial results declared last month.

The footwear maker's revenue surged by 10.6% to Rs 703 crore for the quarter ended December as against Rs 636 crore for the year ago period.

Its earnings before interest, tax, depreciation and amonatisation soared to Rs 225 crore, denoting a 13.1% growth for the October-December quarter from Rs 199 crore for the same quarter of the corresponding year.

Margin expanded at 32% for the quarter under review as against 31.3% for the same period last year.

Shares of Metro Brands on Friday closed 3.85% lower at Rs 1,117.15 apiece on the National Stock Exchange, compared to a 1.86% fall in the benchmark Nifty 50. The stock has fallen by 0.76% in the last 12 months.

Nineteen out of the 27 analysts tracking the company have a 'buy' rating on the stock, four recommend 'hold,' and four suggest 'sell,' according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 15.5%.