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The Phoenix Mills Limited delivers strong operational performance for H1FY20

Posted On: 2019-11-12 10:22:09


The Phoenix Mills Limited ("PML" or the Company), India's largest retail-led mixed-use developer and operator, today announced its unaudited financial results for the second quarter and half year ended September 30, 2019, as approved by its Board of Directors.

H1 FY2020 Consolidated Financial Highlights:

- Revenue from operations at Rs. 10,301 million, up 26% y-o-y
- EBITDA at Rs. 5,034 million, up 28% y-o-y
- Profit after tax and minority interest at Rs. 1,961 million, up 61% y-o-y

Q2 FY2020 Consolidated Financial Highlights:

- Revenue from operations at Rs. 4,151 million, up 3% y-o-y
- EBITDA at Rs. 2,107 million, up 6% y-o-y
- Profit after tax and minority interest at Rs. 657 million, up 6% y-o-y

"We are pleased to report a robust performance in the first half of FY2020. Consumption at our malls was resilient in H1 and grew 3% year on year to Rs. 34,762 million. Our commercial portfolio across Mumbai and Pune continue to deliver strong operational performance. I am glad to inform that work across our under-construction retail and commercial projects is progressing well and we are on course to double our retail portfolio and substantially increase our office portfolio over the next five years." said Mr. Shishir Shrivastava, Joint Managing Director, The Phoenix Mills Limited.

"Our mature and fast-growing rent generating assets have enabled us to deliver consistent profitable growth. Retail Rental Income & EBITDA was up by 7% & 8% respectively for H1 FY20. Income from Commercial Offices was up 66% to Rs. 514 mn for the six months. Excluding the contribution from the residential business, PAT from our core portfolio of retail, hospitality and commercial offices came in at Rs. 1,516 million in H1FY2020, up 27% y-o-y. Our cash flows from operations remain robust and we are focused on maintaining a strong balance sheet and prudent capital allocation strategy." said Mr. Pradumna Kanodia, Director - Finance, The Phoenix Mills Limited.

Shares of The Phoenix Mills Ltd was last trading in BSE at Rs.741.1 as compared to the previous close of Rs. 729.65. The total number of shares traded during the day was 2330 in over 364 trades.

The stock hit an intraday high of Rs. 745 and intraday low of 718.35. The net turnover during the day was Rs. 1712944.


Source: Equity Bulls

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