Q1 2025 Phoenix Mills Ltd Earnings Call Transcript
Key Points
- Consolidated income from operations grew by 12% year-on-year to INR 904 crores.
- Operating EBITDA increased by 8% year-on-year to INR 541 crores.
- Profit after tax rose by 10% year-on-year to INR 295 crores.
- Retail rental income for the quarter was up by 31% over Q1 FY '24.
- Weighted average trading occupancy across major malls improved from 88% in March 2024 to 90% in June 2024.
- Fewer number of movies and lack of blockbuster movie content impacted multiplex performance.
- The summer heatwave resulted in lesser footfalls in many parts of the country.
- F&B and Banqueting revenue declined by 4% due to auspicious days, elections, and dry days.
- Operating cash flow net of taxes and interest was lower by 5% year-on-year.
- Occupancy in Courtyard by Marriott Agra dropped to 63% with the Average Room Rate falling to INR 4,166.
Ladies and gentlemen, good day, and welcome to the Q1 FY '25 Results Conference Call of The Phoenix Mills Limited.
(Operator Instructions)
Management of the company is being represented by Mr. Shishir Shrivastava, Managing Director; Mr. Kailash Gupta, Group CFO; and Mr. Varun Parwal, Group President, Strategy, Audit and Head, Corporate Finance.
(Operator Instructions)
Please note that this conference is being recorded.
At this time, I would like to hand the conference over to Mr. Shishir Shrivastava. Thank you, and over to you, sir.
Good afternoon, ladies and gentlemen. My colleagues and I take pleasure in welcoming to you all to discuss the operating and financial performance for Q1 FY '25. I will now take you through the key highlights of the results with reference to the relevant slides of the results presentation. Slide 3 gives a brief financial overview. Consolidated income from operations for the quarter grew by 12% year-on-year to INR 904 crores.
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