Metro Brands Q2 FY27 Results: Consolidated Net Profit ₹77.28 Crore on Total Income of ₹753 Crore

Earnings
Retail

Blacklitt Research15 October 20262 min read

Shoes on display shelves in a footwear store — Illustrative image. Photo: MarkBuckawicki, via Wikimedia Commons (CC0)

Metro Brands reported consolidated total income of ₹753.21 crore and net profit of ₹77.28 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹733.98 crore and net profit was ₹73.00 crore.

Key highlights

Consolidated

Including its subsidiaries

Total income: ₹753 crore, up 10.9% YoY, up 0.9% QoQ
Net profit: ₹77.28 crore, up 12.0% YoY, down 18.9% QoQ
EPS: ₹2.78, against ₹2.49 in Q2 FY26
Depreciation: ₹87.91 crore, up 12.1% YoY and 12% of revenue

Standalone

The company on its own, without its subsidiaries

Total income: ₹734 crore, up 10.9% YoY, up 0.9% QoQ
Net profit: ₹73.00 crore, up 13.9% YoY, down 20.1% QoQ
EPS: ₹2.68, against ₹2.35 in Q2 FY26
Other income: ₹22.19 crore, down 14.8% YoY

Summary

Consolidated ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	753.21	679.32	+10.9%	746.67	+0.9%
Revenue from operations	730.27	651.14	+12.2%	720.36	+1.4%
Other income	22.94	28.18	-18.6%	26.31	-12.8%
	77.28	68.98	+12.0%	95.26	-18.9%
Finance costs	30.00	29.44	+1.9%	29.62	+1.3%
Depreciation	87.91	78.40	+12.1%	84.97	+3.5%
Tax expense	25.48	22.14	+15.1%	31.49	-19.1%
Net profit margin	10.26%	10.15%	+0.11 pp	12.76%	-2.50 pp
Tax as share of profit before tax	24.9%	24.3%	+0.56 pp	24.9%	-0.05 pp
EPS, basic (₹)	2.78	2.49	+11.6%	3.44	-19.2%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Profit grew in line with revenue, so the margin did not move. Revenue from operations rose 12.2% to ₹730.27 crore and net profit 12.0% to ₹77.28 crore, a margin of 10.26% against 10.15%. Depreciation is the heaviest cost after the stock itself: ₹87.91 crore, about 12% of revenue (derived), and it grew at the same 12.1% as revenue. The filing does not split it between store lease assets and other assets.

Other income of ₹22.94 crore fell 18.6% and is about a fifth of profit before tax (derived), so the retail business earns less of the profit than the headline suggests. Finance costs were flat at ₹30.00 crore. Profit fell 18.9% from the June quarter's ₹95.26 crore, a quarter where revenue was 1.4% lower, so costs rather than sales explain the drop; the filing does not say which.

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	733.98	662.01	+10.9%	727.40	+0.9%
Revenue from operations	711.79	635.97	+11.9%	701.62	+1.4%
Other income	22.19	26.04	-14.8%	25.78	-13.9%
	73.00	64.10	+13.9%	91.37	-20.1%
Finance costs	30.00	29.43	+1.9%	29.61	+1.3%
Depreciation	87.73	78.23	+12.1%	84.80	+3.5%
Tax expense	24.50	21.60	+13.4%	30.63	-20.0%
Net profit margin	9.95%	9.68%	+0.26 pp	12.56%	-2.62 pp
Tax as share of profit before tax	25.1%	25.2%	-0.08 pp	25.1%	+0.02 pp
EPS, basic (₹)	2.68	2.35	+14.0%	3.35	-20.0%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

The parent is nearly the whole group. Standalone net profit of ₹73.00 crore is 94% of the consolidated ₹77.28 crore (derived), and revenue from operations of ₹711.79 crore is 97% of the group's. The group reports one business, the trading of fashion footwear, bags and accessories, in the premium and economy categories.

For H1 FY27 standalone revenue is ₹1,413.41 crore against ₹1,251.06 crore (+13.0%). The cash flow statement shows ₹166.54 crore paid as the final dividend in the half against ₹137.21 crore a year earlier. The earlier extraction of this filing did not show profit; it is taken here from the stored results.

Inference

Metro Brands' profit is rising with its revenue and not faster, and a depreciation charge that grows as fast as sales keeps the margin near 10%.

The filing does not say how much of the 12% revenue growth came from new stores and how much from existing ones.

Reference: Original filing (PDF)

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Metro Brands Q2 FY27 Results: Consolidated Net Profit ₹77.28 Crore on Total Income of ₹753 Crore

Key highlights

Consolidated

Standalone

Summary

Inference

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