WP Memory Limit

I have been unable to import a demo because of the limit restraints. I called my hosting and we made the necessary changes, but I still get the message:
WordPress Memory Limit (WP_MEMORY_LIMIT) : 40M memory limit should be at least 64MB. Please refer to : Increasing memory allocated to PHP for more information

This limit has been increased to 128M.

I am buidling the site in a subdirectory of the site I have running. The website is y2yoga.com/newsite

Can you please advise?

Thanks
TB