Phoenix Mills Q4 PAT climbs 32% YoY to Rs 388 cr

The Phoenix Mills' consolidated net profit jumped 32.60% to Rs 388.79 crore in Q4 FY24 as compared with Rs 293.19 crore in Q4 FY23.

Income from operations stood at Rs 1,305.94 crore, registering a growth of 79.13% on YoY basis.

Profit before tax increased 42.55% YoY to Rs 488.64 crore during the period under review.

Operating EBITDA jumped 46% to Rs 627 crore in Q4 FY24 from Rs 431 crore in Q4 FY23. EBITDA margin slipped marginally to 48% in Q4 FY24 as against 59% in Q4 FY23.

During the March quarter, collection from retail operations stood at Rs 791 crore, up 37% over Q4 FY23.

Total consumption in Q4 FY24 stood at Rs 2,833 crore, demonstrating a growth of 28% on YoY basis.

On a like-to-like basis consumption in Q4 FY24 has grown by 10% over Q4 FY23. Gross retail collections stood at approximately Rs 791 crore in Q4 FY24, with a growth of 37% over Q4 FY23.

On a full year basis, the net profit declined 9.92% to Rs 1,326.32 crore despite of 50.76% jump in income from operations to Rs 3,977.68 crore in FY24 over FY23.

Collections stood at Rs 646 crore in FY24, as compared to Rs 369 crore in FY23.

Meanwhile, the companys board has approved the appointment of Kailash B Gupta as chief financial officer (CFO) with effect from 17 May, 2024.

Subsequently, the board has recommended a dividend of Rs 5 per equity share for the financial year 2023-24.

The Phoenix Mills is India's largest retail led mixed-use developer. Its operations span across most aspects of real estate development; planning, execution, marketing, management, maintenance & sales. The group has real estate assets in Mumbai, Bengaluru, Chennai, Pune, Raipur, Agra, Indore, Lucknow, Bareilly & Ahmedabad.

The counter advanced 2.70% to end at Rs 3,118.15 on Saturday, 18 May 2024. The market is shut on the occasion of voting in Mumbai for Lok Sabha elections.

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