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Informist, Tuesday, Jul. 28, 2026

 

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--Phoenix Mills Apr-Jun consol net profit INR 2.97 bln
--Analysts saw Phoenix Mills Apr-Jun consol net profit at INR 3.33 bln
--Phoenix Mills Apr-Jun consol revenue INR 10.75 bln
--Analysts saw Phoenix Mills Apr-Jun consol revenue at INR 11.21 bln
--Phoenix Mills Apr-Jun consol PAT INR 2.97 bln vs INR 2.41 bln yr ago
--Phoenix Mills Apr-Jun consol revenue INR 10.75 bln vs INR 9.53 bln yr ago
--Phoenix Mills Q1 property svcs sales INR 8.96 bln vs INR 7.64 bln yr ago
--Phoenix Mills Q1 hospitality svcs sales INR 1.85 bln vs INR 1.55 bln yr ago
 

 

By Adhithya Aji

 

MUMBAI – A sharp fall in raw material costs helped Phoenix Mills Ltd. report strong growth in consolidated net profit for the June quarter. The decline in raw materials costs was the steepest in 12 quarters. Total expenses rose at a slower pace than revenue, further supporting profit growth. However, both the bottom line and top line missed Street's estimates. 

 

For the June quarter, the real-estate developer reported a consolidated net profit of INR 2.97 billion, up over 23% on year, but below the Street's estimate of INR 3.33 billion. The top line of the company grew nearly 13% on year to INR 10.75 billion and was below the analysts' estimate of INR 11.21 billion. Sequentially, net profit and revenue fell over 26% and nearly 13%, respectively. 

 

The company's total expenses rose nearly 8% on year. Of this, raw materials costs fell over 61% to INR 491 million from INR 1.26 billion in the corresponding quarter a year ago, while other expenses rose 17% on year to INR 2.25 billion. The total income of the company increased 13% on year to INR 11.15 billion.

 

The Mumbai-based company's revenue from property and related services rose over 17% on year to INR 8.96 billion in the June quarter, while revenue from hospitality services increased nearly 19% to INR 1.85 billion. Revenue from the residential business, however, plunged over 92% on year to INR 33.47 million.

 

Consolidated earnings before interest, tax, depreciation, and amortisation rose 14% on year to INR 6.42 billion. The EBITDA margin for the quarter was 60% against 59% in the same period a year ago.

 

The company's retail consumption – the gross sales value of goods sold by the stores in the malls operated by the company – rose 32% on year to INR 47.30 billion in the June quarter. The retail rental income for the quarter stood at INR 5.94 billion, up 17% on year. Retail asset EBITDA rose 17% to INR 6.25 billion. Phoenix Mall of Asia in Bengaluru contributed the most to consumption at INR 7.25 billion, up 96% on year. 

 

Phoenix Mills' operating free cash flow for the quarter rose 20% on year to INR 6.02 billion. The gross debt of the real estate major as of Jun. 30 was  INR 56.58 billion, up by INR 4.94 billion from March, the company said in its investor presentation. As of Jun. 30, Phoenix Mills' liquidity was INR 20 billion, flat compared with the corresponding period last year.

 

Tuesday, the company's shares ended 0.7% lower at INR 2,023.20 on the National Stock Exchange. The company released its June quarter results after market hours.  End

 

Edited by Saji George Titus

 

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