India's Metro Brands third-quarter profit surges as tax cuts boost demand
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India’s Metro Brands reported a nearly 36% increase in third-quarter profit, reaching 1.28 billion rupees ($13.97 million), driven by consumption tax cuts and festive demand. Revenue rose about 15% to 8.11 billion rupees, with e-commerce sales up 24%. The tax cuts on footwear below 2,500 rupees have made products more affordable, boosting sales. The company also re-appointed CEO Nissan Joseph for a five-year term.
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