*Phoenix Mills,* engaged in the business of developing real
estate, disclosed a decline in standalone net profit for the quarter ended
December 2008. During the quarter, the profit of the company declined 14.05%
to Rs 147.50 million from Rs 171.62 million in the same quarter previous
year.

Net sales for the quarter rose 9.41% to Rs 220.87 million, while total
income for the quarter fell 10.96% to Rs 282.71 million, when compared with
the prior year period.

The company posted earnings of Rs 1.02 a share during the quarter,
registering 84.14% decline over previous year period.


  *Quarterly Results - Standalone (Rs in mn)* *As at* *Dec - 08* *Dec - 07*
*%Change* *Net Sales* 220.87 201.87 9.41 *Net Profit* 147.50 171.62 (14.05)
*Basic EPS* 1.02 6.43 (84.14)

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