India's Metro Brands falls after Q1 earnings miss estimates

Metro Brands

12/08/2024 07:29

** Shares of footwear retailer Metro Brands  METB.NS  down ~2%
to 1,319 rupees, set to snap three consecutive sessions of gains
    ** Co reported Q1 revenue and profit below estimates on
Friday, hurt by muted demand
    ** Analysts' avg rating on stock is "Hold" per LSEG data,
in-line with Bata India  BATA.NS , Campus Activewear  CAMU.NS 
and Relaxo Footwears  RLXO.NS 
    ** Median PT on METB is 1,208 rupees - a 10% discount to
last close
    ** Including session's losses, METB up ~4% YTD vs 4% gain in
CAMU, 14% fall in BATA and ~10% fall in RLXO

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))