Phoenix Mill net profit declines 29% YoY in Q3 FY21

On a consolidated basis, the Phoenix Mills reported 28.8% fall in net profit to Rs 65.42 crore on 34% decline in net sales to Rs 337.84 crore in Q3 FY21 over Q3 FY20.

In the third quarter, revenue from the Retail segment was at Rs 223 crore (down 30.7% YoY), revenue from the Residential segment was at Rs 55.6 crore (up 15.6% YoY), revenue from the Commercial segment was at Rs 31.5 crore (down 5.7% YoY) and revenue from Hospitality & Others was at Rs 27.8 crore (down 74.4% YoY).

EBITDA declined by 38.8% to Rs 158.8 crore in Q3 FY21 from Rs 259.4 crore in Q3 FY20. EBITDA margin was at 47% as on 31 December 2020 as against 51% as on 31 December 2019.

Profit before tax in Q3 December 2020 stood at Rs 35.17 crore, down by 73.4% from Rs 132.26 crore in Q3 December 2019. The company wrote back current taxes aggregating Rs 24.95 crore during the quarter.

The Phoenix Mills group is the largest player in the Indian retail mall segment, and has a portfolio of of eight retail mall assets across major cities in the country. It also has an office portfolio of in Mumbai and Pune, two operational hotels (one in Mumbai and another in Agra), and residential real estate in Bengaluru and Chennai.

The scrip shed 0.07% to end at Rs 816.75 on the BSE on Friday.

Powered by Capital Market - Live News