Phoenix Mills Q4 earnings: Net profit zooms 140% YoY, Board declares 250% dividend

Phoenix Mills is a large-cap real estate company that has declared its Q4 and FY23 earnings along with a dividend of 250% for its eligible shareholders.

“We wish to inform you that the Board of Directors of the Company at their meeting held Today, viz. Wednesday, May 24, 2023, have considered and recommended a final dividend of Rs. 5/- per Equity Share of face value of Rs. 2/- each (250%) for the financial year ended March 31, 2023. The dividend, payout is subject to the Member’s approval at the ensuing Annual General Meeting of the Company,» said Phoenix Mills in a stock exchange filing.

During the quarter ended March 2023, its Net Sales reached 729.04 crore up 47.16% from Rs. 495.39 crore in March 2022 quarter. During Q4FY23, the net profit of Phoenix Mills reached 292.3 Cr up by 140% YoY from 121.90 Cr in Q4FY22. During the quarter under review, its EBITDA stood at 430.7 Cr up by 79% YoY from 241.10 Cr in the year-ago quarter. Its EPS climbed to 14.22 from 5.87 registering a growth of 142% YoY. 

The shares of Phoenix Mill were seen trading at 1,401.10 with a downside gap of 1.50% while writing this copy.

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