Rekha Jhunjhunwala saw a significant increase in her net worth today, thanks to the impressive performance of the Metro Brands stock. Shares of the company are upbeat today as its earnings for the quarter ended June beat analyst estimates.
The footwear giant’s revenue from operations went up 14.68% to ₹582.52 crore as compared to the ₹507.9 crore revenue it reported in the same quarter last year. Profit for the April-June period stood at ₹92.8 crore down 12% from the year-ago period. The number however was above street estimates of around ₹80 crore.
Jhunjhunwala owns 9.6% or 26,102,394 shares of Metro Brands. So, on the previous day, when the stock closed at ₹1,045.90, the value of her holding was ₹2,730.07 crore. Today, after the surge to ₹1,108 apiece, her stake’s value went up to ₹2,891.45 crore.
Price Action: Metro Brands’ share price was up 3.37% to trade at ₹1,076.35 on Wednesday afternoon.
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Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.
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