Home / Companies / News /  Indian company rewards shareholders with discount shopping vouchers. Details inside

Footwear retailer Metro Brands on Tuesday said that the company has proposed to send ‘discount voucher’ to its shareholders. The vouchers shall entitle each shareholder to a discount of 15% on products of the company.

“We are pleased to inform that the company is proposing to send “Discount Voucher" to all its shareholders as a small token for their love and appreciation. These vouchers shall entitle each shareholder to a discount of 15% (fifteen per cent) on the products of the company across its brands namely, Metro, Mochi, Walkway, Crocs and Fitflop. The details of the voucher will be sent on the registered email-id of the shareholders," the company informed in an exchange filing today.

The company retails footwear own-brands like Metro, Mochi, Walkway, Da Vinchi and J Fontini, as well as certain third-party brands such as Crocs, Skechers, Clarks, Florsheim and Fitflop. Metro Brands also offers accessories, such as belts, bags, socks, masks and wallets at its stores.

For the first quarter ended June 2022, the multi-brand footwear retail chain Metro Brands reported a consolidated net profit of 105.7 crore as compared to reporting a loss of 12 crore in the year-ago quarter. Its total revenue from operations was up over two-fold to 508 crore during the quarter under review as against a low base of the pandemic-impacted corresponding quarter.

“Q1 has been an excellent start to our new fiscal year as we set new records in Revenue, EBITDA and PAT. We have seen the business continue the momentum that we saw as early as Q3 of FY 22, has stayed through Q4 and now has resulted in our strongest quarter in our history of Metro Brands," said Metro Brands CEO Nissan Joseph.

Metro Brands shares made stock market debut in December last year, and the stock is up more than 74% since listing. The three-day initial public offering (IPO) of Metro Brands was subscribed 3.64 times on the last day of subscription that opened on December 10 and closed on December 14. The share sale had a fresh issue of 295 crore and an offer for sale (OFS) of up to 2,14,50,100 equity shares.

 

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