Shares of Phoenix Mills Ltd. dropped more than 7% after the company reported weaker-than-expected financial results for Q2 FY25. The company posted a 13.7% year-on-year drop in net profit to ₹218.1 crore, down from ₹252.6 crore in the same quarter last year. Despite a 5% increase in revenue, which rose to ₹918 crore, the company’s operational performance saw a dip.
EBITDA declined by 2.5% to ₹517.6 crore, with the EBITDA margin slightly down to 56.4% from 57.8% year-over-year.
The company’s share price opened at ₹1,428.00, reached a high of ₹1,439.95, and hit a low of ₹1,374.35 as markets reacted to the news.
As of 9:28 am, Phoenix Mills shares were trading 7.93% lower at Rs 1,365.05 on the NSE.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should consult their financial advisors before making investment decisions.
