BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Key highlight for Phoenix Mills Ltd. was improving consumption at retail malls with festivities amid the expected weak Q2 FY21 prints.
While Q2 FY21 consumption was at 40-55% of Q2 FY20, October 2020 consumption was up 44% month-on-month.
Furthermore, the first seven days of November were approximately 85% of last year (approximately 75% on adjusted basis).
In Q2 FY21, reported revenues degrew ~ 48% YoY to Rs 214.9 crore, with core portfolio (commercial, retail, hospitality) revenues down ~58% YoY to Rs 170.1 crore, amid retail rental waivers and weak hospitality performance.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.