Phoenix Mills Q3 consolidated net profit up 47% year-on-year

The Phoenix Mills has reported 47% year-on year rise in consolidated net profit for the quarter ended December. Revenue from operations fell nearly 5% to Rs 416.6 crore, the company said in a regulatory filing. The company’s revenue from retail operations stood at Rs 271.9 crore, while revenue from hospitality and residential business stood at Rs 96.4 crore and Rs 31.1 crore, respectively. During major part of third quarter, around 12% area in High Street Phoenix was under fit-outs and did not contribute to consumption as well as revenue during the quarter. This area is now operational with premium offerings from apparels & fashion, food & beverages brands, the company said.