Phoenix Mills profit rises 23% in June quarter; shares slide 5% on project delays
Phoenix Mills reported a 23.2% year-on-year rise in consolidated net profit to ₹297 crore and 12.8% revenue growth to ₹1,075 crore. Higher occupancy and revenue-share flows aided mall performance, but investors flagged softer residential revenue and delays to Bengaluru and Surat projects.
Phoenix Mills reported June-quarter profit and revenue growth, supported by higher occupancy at newer malls and stronger revenue-share flows. Shares fell amid mixed brokerage views, weaker residential revenue and delays to its Bengaluru expansion and Surat projects.
Why this matters
The result follows Phoenix Mills' recent Q1 profit-growth signal and reinforces the prior report of 32% consumption growth to ₹4,727 crore with rental income lagging growth. Bengaluru and Surat delays add a new investor concern.
Retail-company is accelerating, up +400800% QoQ.