The Phoenix Mills Limited Announces Unaudited Standalone and Consolidated Earnings Results for the First Quarter Ended June 30, 2018
August 10, 2018 at 12:30 pm EDT
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The Phoenix Mills Limited announced unaudited standalone and consolidated earnings results for the first quarter ended June 30, 2018. For the quarter, on standalone basis, the company reported net sales/income from operation of INR 1,092.286 million compared to INR 981.634 million a year ago. Profit from ordinary activities before tax was INR 447.024 million compared to INR 417.636 million a year ago. Net profit after taxes from continuing operations was INR 346.671 million or INR 2.26 per diluted share compared to INR 311.891 million or INR 2.03 per diluted share a year ago.
For the quarter, on consolidated basis, the company reported net sales/income from operation of INR 4,131.639 million compared to INR 3,959.059 million a year ago. Profit from ordinary activities before tax was INR 778.347 million compared to INR 540.868 million a year ago. Net profit after taxes from continuing operations was INR 543.096 million compared to INR 274.429 million a year ago. Net profit attributable to the shareholders was INR 597.298 million or INR 3.89 per diluted share compared to INR 425.839 million or INR 2.77 per diluted share a year ago. EBITDA was at a INR 1,953 million which was up 11% year on year. Gross debt at the end of June 30, 2018 was at INR 43,896 million which is slightly higher than the previous quarter. The total Capex that the company is envisaging which includes land, construction and the interest during construction would be closer to INR 45,000 million only for the Phase I.
The Phoenix Mills Limited is an India-based real estate development company. The Company is engaged in the development and leasing of commercial and retail space. The Company operates through two segments: Property and related services and Hospitality. The Property and related services segment are engaged in providing mall /office areas on license basis and development of commercial / residential properties. The Hospitality segment is engaged in the operation of hotels and restaurants. Its retail projects include Phoenix Palladium, Mumbai; Phoenix Marketcity, Pune; Phoenix Mall of the Millennium, Pune and Palladium, Chennai. Its commercial projects include Art Guild House, Mumbai; The Centrium, Mumbai; Fountainhead Tower 1, Pune; Fountainhead Tower 2, Pune; Fountainhead Tower 3, Pune and Phoenix House, Mumbai. Its hospitality projects include The St. Regis, Mumbai and Courtyard by Marriott, Agra. Its residential projects include One Bangalore West and Kessaku, Bangalore.