Earnings Review
Phoenix Mills Q3 PAT, revenue grow YoY but miss estimates
This story was originally published at 20:29 IST on 28 January 2026
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--Phoenix Mills Oct-Dec consol net profit INR 2.76 bln
--Analysts saw Phoenix Mills consol net profit at INR 4.01 bln
--Phoenix Mills Oct-Dec consol revenue INR 11.21 bln
--Analysts saw Phoenix Mills consol revenue at INR 11.52 bln
--Phoenix Mills Oct-Dec consol PAT INR 2.76 bln vs INR 2.65 bln year ago
--Phoenix Mills Oct-Dec consol revenue INR 11.21 bln vs INR 9.75 bln yr ago
--Phoenix Mills Apr-Dec consol PAT INR 8.20 bln vs INR 7.15 bln year ago
--Phoenix Mills Apr-Dec consol revenue INR 31.90 bln vs INR 27.97 bln yr ago
--Phoenix Mills Q3 consol operating EBITDA INR 6.56 bln, up 19% on year
--Phoenix Mills Q3 retail business consumption INR 49.92 bln, up 25% on year
By Pallavi Singhal
NEW DELHI – The Phoenix Mills Ltd. on Wednesday reported a marginal rise in its consolidated net profit for the December quarter, though both profit and revenue fell short of analysts' consensus estimates.
The company's consolidated net profit for the December quarter was INR 2.76 billion, up nearly 4% on year from INR 2.65 billion in the year-ago period. Analysts had estimated the company's consolidated net profit at INR 4.01 billion.
The company's consolidated revenue from operations for the reporting quarter was INR 11.21 billion, up nearly 15% on year from INR 9.75 billion in the corresponding quarter last year. Analysts had estimated consolidated revenue at INR 11.52 billion.
On a segmental basis, property and related services revenue rose nearly 10% on year to INR 8.48 billion during the quarter, compared with INR 7.72 billion a year earlier, remaining the company's largest revenue contributor.
Revenue from hospitality services increased nearly 13% on year to INR 2.19 billion, from INR 1.94 billion in the year-ago quarter, supported by improved operating performance.
The residential segment saw a sharp increase, with revenue surging nearly 284% on year to INR 629.9 million in the Oct–Dec quarter, compared with INR 164.3 million a year earlier, aided by project handovers. The company's consolidated operating EBITDA rose 19% on year to INR 6.56 billion in the reporting quarter. Its retail business consumption was up 25% on year to INR 49.92 billion.
The company's total consolidated expenses for the December quarter rose nearly 8% on year to INR 6.54 billion, compared with INR 6.06 billion in the year-ago period. The increase was largely driven by higher employee and other operating expenses. Employee benefit expenses rose about 11% on year to INR 1.09 billion, while other expenses increased nearly 12% on year to INR 2.42 billion. Depreciation and amortisation expense climbed over 6% on year to INR 862.8 million, reflecting additions to the asset base. Finance costs edged down marginally on year to INR 1.02 billion, while electricity expenses declined about 10% on year to INR 464.3 million.
For Apr–Dec, Phoenix Mills reported a consolidated net profit of INR 8.20 billion, up nearly 15% on year from INR 7.15 billion. Consolidated revenue for the nine-month period rose about 14% on year to INR 31.90 billion, from INR 27.97 billion a year ago.
The company detailed its earnings post market hours. It's shares ended 0.1% lower at INR 1,726.20 Wednesday. End
Edited by Deepshikha Bhardwaj
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