Saif Ali Khan and Katrina Kaif starrer "Phantom" had a decent fourth day at the box office. The film witnessed around 45% drop in its business on Monday as compared to opening day.

The drop in the business is decent considering that it was the first working day. Kabir Khan's directorial film has so far minted Rs 37.58 crore from its four-day box office run in India.

"#Phantom Fri 8.46 cr, Sat 12.78 cr, Sun 11.94 cr, Mon 4.40 cr. Total: ₹ 37.58 cr. India biz," trade analyst Taran Adarsh tweeted.

Action drama film "Phantom" also had a decent weekend, but the film failed to beat the record of Akshay Kumar's "Baby".

Nevertheless, "Phantom" will have a good one week with Rs 50 crore income from India. The business of the film, which is based on global terrorism, went up during the opening weekend due to positive reviews and it is likely to remain steady during weekdays.

"Phantom is a surprise success of this year. Trade wasn't that hopeful about the film but the film has performed exceedingly well on the weekend," an industry source said.

Sajid Nadiadwala, who produced the film along with Siddharth Roy Kapur, said in a statement that "Phantom" business went up with each show.

"We always knew that we have a very strong film and this year has been the year of content. Even those bigger films that have succeeded are good films with solid content. Phantom has done well because the content of the film has struck a chord with the audience. It has grown with every show. This is a very healthy trend that works well for good content films," said producer Nadiadwala.