NEW DELHI: The Phoenix Mills has reported a growth of 36.92 per cent in its net consolidated profit during the quarter ended September 30, 2023. Its profit after tax stood at Rs 303.82 crore in Q2 FY24 as against Rs 221.89 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 906.64 crore in Q2 FY24, a growth of 32.65 per cent from Rs 683.49 crore it recorded in the similar quarter last year.
The board of directors have approved the appointment of Sumanta Datta as an additional director and non-executive independent director on the board of the company for a first term of five years with effect from November 08, 2023 to November 07, 2028.
In retail segment, total consumption in Q2 FY24 stood at Rs. 2,639 crore, demonstrating a year-on-year growth of 20% over Q2 FY23. Total consumption in H1 FY24 stood at Rs. 5,213 crore, demonstrating a year-on-year growth of 19% over H1 FY23.
“Strong leasing traction continues during the period from April to October 2023, with gross leasing of over three lakh sq ft, of which about two lakh sq ft is new leasing and approximately one lakh sq ft is renewal,” it said in its investors presentation.
Commercial offices income stood at Rs. 47 crore in Q2 FY24, up 9% over Q2 FY23 and EBITDA stood at Rs. 26 crore, demonstrating a growth of 6% over Q2 FY23.
In the residential segment, gross sales witnessed a 155 per cent year-on-year growth and stood at Rs. 433 crores in H1 FY24 vis-à-vis Rs. 466 crores in FY23. Collections in Q2 FY24 were ~Rs. 184 crores and ~Rs. 318 crores in H1 FY24.
As on September 30, 2023, its net debt was Rs 2,096 crore at group level.
