India's Phoenix Mills rises on higher quarterly profit

The Phoenix Mills

03/11/2025 06:18

**Shares of mall operator Phoenix Mills PHOE.NS rise 2.82% to 1,730 rupees per share, highest since April 23

**Co reports 39.5% Y/Y climb in Q2 consol net profit; rev from ops up 21.5% Y/Y

**HBSC Securties ("Buy"; raises PT to 2,110 rupees) says co's quarterly earnings beat consensus on support from residential performance with core operational performance steadily improving

**Jefferies ("Buy") expects Phoenix to remain on track to deliver mid-teens percentage lease income growth in the long run

**Stock rated "Buy" on average by 20 analysts; median PT at 1,850 rupees - data compiled by LSEG

**YTD, stock up 5.8%

 (Reporting by Mridula Kumar)

 ((Mridula.kumar@thomsonreuters.com))