Phoenix Mills’ consolidated number in Q3FY19 were much above the consensus estimates. Revenue rose 5.7% yoy to Rs440.4cr as against Rs416.6cr in Q3FY18, beating the estimates by a significant 48.9%. The company’s EBITDA in the quarter grew 7.6% yoy to Rs222.47cr, racing 52.8% ahead of the consensus estimates. EBITDA margin for the quarter under consideration expanded 88bps to 50.5% on a yoy basis. Net profit for the company grew 8.6% yoy to Rs70.83cr in Q3FY19 vs. Rs65.3Cr in Q3FY18, 29.5% higher than the consensus estimates.
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.
Phoenix Mills Ltd share price ended at Rs571, up 3.3 points, or 0.58%, from its previous close of Rs567.70 on the BSE. The scrip opened at Rs568.60 and touched a high and low of Rs579.95 and Rs563, respectively. A total of 18,856 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200-DMA.
Please use the temporary password sent on your email id or mobile no.
Update Mobile no.
Why you need to update your Mobile number ?
By providing verified mobile number we provide more exclusive information in the website.
Update Mobile no.
Terms & Conditions
By clicking on submit button, you authorize IIFL & its representatives & agents to provide information about various products, offers and services provided by IIFL through any mode including telephone calls, SMS, letters etc. . you confirm that laws in relation to unsolicited communication referred in National Do Not Call Registry as laid down by Telecom Regulatory Authority of India will not be applicable for such information/ communication.