NEW DELHI: The Phoenix Mills has reported a dip of 61.11 per cent in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax stood at Rs 289.70 crore in Q1 FY24 as against Rs 745 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 839.59 crore in Q1 FY24, a growth of 40.44 per cent from Rs 597.84 crore it recorded in the similar quarter last year.
The board of directors of the company approved re-appointment of Rajendra Kalkar as a whole-time director of the company for a period of five years, with effect from December 10, 2023, to December 09, 2028, appointment of Rashmi Sen as an additional director and a whole-time of the company for a period of five years with effect from August 08, 2023, to August 07, 2028 and appointment of Anand Khatau as an additional director and an independent director of the company for a first term of five years with effect from August 08, 2023 to August 07, 2028.
The board also approved appointment of Archana Hingorani as an additional director and an independent director of the company for a first term of five years with effect from August 08, 2023, to August 07, 2028 and appointment of Sumeet Anand as an additional director and an independent director of the company for a first term of five years with effect from August 08, 2023 to August 07, 2028.
Total retail consumption in Q1 FY24 stood at Rs 25,738 million and retail collections stood at Rs. 6,136 million in Q1 FY24. Strong commercial leasing traction continues during the period April to July 2023, with gross leasing of ~1.76 lakh sq ft, of which ~0.88 lakh sq ft is new leasing and ~0.87 lakh sq ft is renewal. Income from commercial offices in Q1 FY24 stood at Rs. 449 million, the company said in its investors presentation.
