Mall rentals, consumption push Phoenix Mills' consolidated Q1 PAT up by 40%

Q1 retail rental income up by 15% at Rs 2.4 billion; mixed performance in hotel vertical

Growing retail rental income across its malls, coupled with rise in consumption, has led to retail mall developer and operator, The Phoenix Mills Limited (PML), posting a 40 per cent jump in its consolidated profit after tax (PAT) for the first quarter ended June 30 of the financial year 2018-19. 

In its unaudited financial results for Q1 of FY19, PML has seen a jump from Rs 425.84 million PAT in Q1 of previous fiscal 2017-18 to Rs 597.3 million this year. One of the largest retail-led mixed-use asset developers and operators, PML has also seen revenue from operations grow by