Phoenix Mills reported iinline with expected Q3 results and improved execution, we have a buy rating on the stock. - In-line performance; PAT grows 9%: PHNX's revenues grew 6% YoY to INR4,404m (in line with our est. of INR4,409m), primarily driven by the Retail segment (+7% to INR2,899m). EBITDA margin expanded 90bp YoY to 50.5% (v/s our est. of 49.3%). EBITDA stood at INR2,225m, as against our est. of INR2,173m, up 8% YoY. PAT rose 9% YoY to INR708m, higher than our est. of INR680m.
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PHOENIXLTD 
Reputation: 262 • Feb 11, 2019 1:34 PM
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