Why Phoenix Mills is among top losers on the bourses
Phoenix Mills shares dropped 2.07% to ₹1,445.50 on Wednesday, landing it among the top losers in the Nifty Midcap 150.
The fall follows a wave of selling pressure and an overall bearish market mood highlighted in a recent Moneycontrol report.
Still, Phoenix Mills managed to grow its revenue by over 5% year-on-year for Q1 FY25 (ending June), showing some resilience despite the dip.
Looking at the company's financials
For FY25 ending March, revenue dipped slightly to ₹3,813.57 crore (from ₹3,977.69 crore last year), and net profit also slipped a bit to ₹1,301.53 crore.
Earnings per share took a bigger hit—down from ₹61.36 to just ₹27.53 this year.
On the brighter side, Q1 FY25 brought in solid numbers with revenue at ₹952.99 crore and net profit at ₹319.92 crore.
Plus, shareholders got some love: back in May, Phoenix Mills announced a dividend of ₹5 per share and handed out bonus shares (one for every share owned) in July.