Phoenix Mills Ltd's Q3FY19 consolidated net profit rises 8.56% yoy to Rs70.83cr: Beats Estimates

Phoenix Mills Ltd Q3FY19

Consolidated Results Q3FY19: (in Rs cr)

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Phoenix Mills

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Reco. Price

581.3

Last updated on

30-Jan-2019

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• Top-line growth for the quarter primarily driven by Property & Related Services (78% of the revenue mix).
• Operating performance was mainly driven by a sharp decline in the cost sales (down 24.3% yoy to Rs21.3cr in Q3FY19).
• Bottom-line growth in Q3FY19 was led by stable operating performance further supported by higher other income (up 60.4% yoy to Rs17cr) and lower tax expenses (down 19.7% yoy to Rs17.5cr).
• Revenues from Property & Related Services increased 6.9% yoy to Rs342.6cr in Q3FY19. EBIT grew 11.2% yoy to Rs153.6cr while EBIT margin stood at 44.8% in Q3FY19 (vs. 43.1% in Q3FY18).
• Hospitality Services, which contributed 22% to the consolidated revenues, rose 1.7% yoy to Rs97.8cr for the current quarter. However, EBIT dropped 17.9% yoy to Rs16.6cr, which led to a drop in the EBIT margin from 21% in Q3FY18 to 17% in Q3FY19.
• The company’s employee expenses increased 13.9% yoy to Rs45.9cr while other expenses increased 11% yoy to Rs110.5cr in Q3FY19.
• Finance costs rose 3.9% yoy to Rs91.7cr during the quarter under review.

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Phoenix Mills

Buy

Reco. Price

581.3

Last updated on

30-Jan-2019

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