Phoenix Mills reported a net profit of Rs 3.0382 billion in Q2 FY24
ECONOMY & POLICY

Phoenix Mills reported a net profit of Rs 3.0382 billion in Q2 FY24

Phoenix Mills reported a net profit of Rs 3.0382 billion in Q2 FY24, an increase of 36.92% from Rs 2.2189 billion in the same quarter last year. The company's total income for the quarter stood at Rs 9.0664 billion, an increase of 32.65% from Rs 683.49 crore in the same quarter last year. The company's growth was driven by strong revenue growth from its retail and hospitality segments. The retail segment revenue grew by 35% to Rs 6.9802 billion, while the hospitality segment revenue grew by 18% to Rs 1.3662 billion. Phoenix Mills is a leading retail real estate company with a portfolio of high-quality shopping malls and office properties. The company's malls are located in prime locations in major Indian cities such as Mumbai, Delhi, Bengaluru, and Chennai. The company's strong financial results are a reflection of its strong brand, its focus on innovation, and its commitment to providing a superior customer experience. The company is well-positioned for continued growth in the years to come. In addition to its financial results, Phoenix Mills also announced that it has appointed Sumanta Datta as an additional director and non-executive independent director on the board of the company. Datta is a seasoned professional with over 35 years of experience in the financial services industry. He has held senior positions at several leading banks and financial institutions. The appointment of Datta is expected to strengthen The Phoenix Mills' board of directors and provide valuable guidance to the company as it continues to grow and expand its business.

Phoenix Mills reported a net profit of Rs 3.0382 billion in Q2 FY24, an increase of 36.92% from Rs 2.2189 billion in the same quarter last year. The company's total income for the quarter stood at Rs 9.0664 billion, an increase of 32.65% from Rs 683.49 crore in the same quarter last year. The company's growth was driven by strong revenue growth from its retail and hospitality segments. The retail segment revenue grew by 35% to Rs 6.9802 billion, while the hospitality segment revenue grew by 18% to Rs 1.3662 billion. Phoenix Mills is a leading retail real estate company with a portfolio of high-quality shopping malls and office properties. The company's malls are located in prime locations in major Indian cities such as Mumbai, Delhi, Bengaluru, and Chennai. The company's strong financial results are a reflection of its strong brand, its focus on innovation, and its commitment to providing a superior customer experience. The company is well-positioned for continued growth in the years to come. In addition to its financial results, Phoenix Mills also announced that it has appointed Sumanta Datta as an additional director and non-executive independent director on the board of the company. Datta is a seasoned professional with over 35 years of experience in the financial services industry. He has held senior positions at several leading banks and financial institutions. The appointment of Datta is expected to strengthen The Phoenix Mills' board of directors and provide valuable guidance to the company as it continues to grow and expand its business.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code