Phoenix Overseas Limited — Updates, 14-11-2024: Press Release

For the half-year ended September 30, 2024, Phoenix Overseas Limited reported consolidated revenue of ₹20,141.01 crore, reflecting a decline of 26.72% from ₹27,485.21 crore in the same period last year. EBITDA decreased by 26.24% to ₹375.06 crore, with an EBITDA margin of 1.86%. However, profit before tax increased by 9.11% to ₹157.45 crore, while profit after tax rose by 8.51% to ₹118.92 crore, showcasing a net profit margin increase of 48% compared to the previous year.

The decline in revenue primarily stemmed from socio-political instability in Bangladesh, causing a dollar shortage that limited imports from India and led to rising costs. Despite these challenges, the company reported improved net profit margins due to effective cost control measures and operational efficiencies. Looking ahead, management is optimistic about the prospects with ongoing investments in growth initiatives, reinforcing a positive outlook for long-term performance. Shareholders are encouraged to watch closely as the company navigates the current challenges while aiming for sustained growth.