Homemarket Newsstocks News

Phoenix Mills shares cool off after hitting a 52-week high post quarterly results

Phoenix Mills shares cool off after hitting a 52-week high post quarterly results

Phoenix Mills shares cool off after hitting a 52-week high post quarterly results
Read Time
1 Min(s) Read
Profile image

By CNBCTV18.com Nov 9, 2022 10:40:41 AM IST (Published)

Shares of Phoenix Mills are up nearly 60 percent this year.

wealth-desk wealth-desk

Buy / Sell Phoenix Mills share

Recommended Articles

View All

Shares of Phoenix Mills Ltd. hit a 52-week high in early trading on Wednesday but cooled off soon after despite a multi-fold jump in its net profit for the September quarter.
The company's net profit grew over 4x from the same period last year courtesy a low base due to the pandemic. The bottom-line for the quarter stood at Rs 222 crore.

Revenue for the quarter jumped 75 percent to Rs 651.1 crore compared to the corresponding period a year ago.

The company’s EBITDA or Operating profit also doubled from last year to Rs 381 crore, compared to Rs 186 crore. Margin increased 8 percentage points to 58 percent from 50 percent.

Even when compared to pre-Covid levels, the company's revenue is up 57 percent while net profit is up 245 percent.

EBITDA from Retail business in the September quarter increased 129 percent compared to previous two-year period while the company saw a 121 percent growth in retail rental income compared to the same quarter in pre-pandemic period.

Shares of Phoenix Mills opened at a 52-week high of Rs 1,624 but gave up gains to currently trade 0.3 percent higher at Rs 1,550.

Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Most Read

Market Movers

View All
Top GainersTop Losers
CurrencyCommodities
CompanyPriceChng%Chng