Phoenix Mills Faces Profit Drop Amid Income Decline

Phoenix Mills Ltd reported an 18% drop in net profit to Rs 268.82 crore for the March quarter, impacted by reduced income. The company's total income also fell significantly for both the quarter and the 2024-25 fiscal year as per its recent regulatory filing.

Phoenix Mills Ltd, a prominent player in the retail real estate sector, has reported an 18% decrease in consolidated net profit, bringing the figure down to Rs 268.82 crore in the March quarter. The decline is attributed to lower income levels in the specified period.

Compared to the net profit of Rs 326.73 crore in the previous year, the company's financial situation has weakened. Total income also dropped to Rs 1,061.48 crore during the fourth quarter, down from Rs 1,343.14 crore in the corresponding period of the prior year, according to an official filing on April 30.

For the full fiscal year of 2024-25, net profit decreased to Rs 984.22 crore from Rs 1,099.20 crore the preceding year. Additionally, total income fell to Rs 3,964.47 crore from Rs 4,109.86 crore, marking a dip in the firm's overall financial health. Phoenix Mills, known for developing shopping malls, also ventures into office spaces and hotels.

(With inputs from agencies.)