The Phoenix Mills posts net profit of Rs 293.19 crore in Q4 FY23, ET RealEstate
NEW DELHI: The Phoenix Mills has reported a growth of 149.86 per cent in its net consolidated profit during the quarter ended March 31, 2023. Its profit after tax stood at Rs 293.19 crore in Q4 FY23 as against Rs 117.34 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 754.73 crore in Q4 FY23, a growth of 45.19 per cent from Rs 519.81 crore it recorded in the similar quarter last year.
The board of directors recommended a final dividend of Rs 5 per equity share of face value of Rs 2 each (250%) for the financial year ended March 31, 2023.
Total consumption in retail segment was Rs 22,114 million in Q4 FY23. The company achieved gross office leasing of about 4.31 lakh sq ft during FY23, of which approximately 2.81 lakh sq ft is new leasing and about 1.50 lakh sq ft is renewal leasing. Total office income in Q4 FY23 stood at Rs. 433 million and total EBITDA stood at Rs. 271 million.
The Phoenix Mills saw residential sales of Rs 1,994 million in Q4 FY23 while collections were Rs 1,149 million. Average cost of debt in March 2023 stands at 8.74%, according to the company’s investors presentation.
