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Motilal Oswal Report
Phoenix Mills Ltd. posted Q1 FY25 revenue of Rs 9 billion, up 12% YoY (in line). Ebitda stood at Rs 5.3 billion, up 8% YoY (in line) as margin contracted 200bp YoY. Profit after tax was flat YoY at Rs 2.4 billion (7% above estimate.), with a margin of ~26%.
Phoenix Mills generated an operating cash flow (post-interest) of Rs 4.3 billion (down 5% YoY) and incurred Rs 6.5 billion on capex. It also received Rs 2.7 billion from joint venture partners, and hence, the consolidated net debt declined Rs 1 billion sequentially to Rs 20 billion.
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