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Phoenix Mills seems to be firing on all cylinders; investors rejoice

Its crown jewels - High Street Phoenix and Palladium - clocked an average trading density of Rs 3,620 per sq ft per month last quarter

Raghavendra Kamath  |  Mumbai 

Phoenix Mills seems to be firing on all cylinders. Besides 30 per cent jump in its net profit at Rs 91.85 crore in Q3FY20, the company is doing well on several business metrics. While it had a muted H1FY20 performance with consumption growth of just 3 per cent across its malls, last quar­ter it saw consumption growth of 10 per cent (year-on year) YoY and rental income growth of 8 per cent.

Investors are also cheering the performance of the company. On February 25, the stock of Phoenix Mills hit an all-time high of Rs 980. The stock has jumped 29 per cent since the beginning of the ...

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First Published: Sun, March 01 2020. 21:56 IST
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