Devyani International Q4 results: Company reports a loss of Rs 49 crore; revenue rises by 38% YoY
Devyani International, the largest Indian franchise for Pizza Hut and KFC, today reported a net loss of Rs 49 crore for the quarter ended March 31, 2024, as against a profit of nearly Rs 60 crore for the same period last year.
The firm reported an increase in revenue from operations by 38% year-on-year (YoY) to Rs 1061.7 crore. The total expenses of the company also increased by 32% YoY to Rs 550.6 crore which stood at Rs 374 crore in the fourth quarter of FY23.
The EBITDA margins also declined by 340 bps YoY to 16.6%, as against 20% posted last year for the same period.
«Alongside our global expansion, we have also been working on a strategy to enhance our domestic footprint of Food Courts business in response to India's emergence as a major destination for travel, tourism, and shopping. The domestic travel market is picking up very well and we are seeing religious tourism as one of the important thrust areas. India is also gaining importance in the international markets for medico tourism and a value for money shopping destination. All these changes are structural in nature and here to stay. There is a common theme that runs across this phenomenon and that is Food – ON The GO,” said Ravi Jaipuria, Non-Executive Chairman of Devyani International.
In Q4FY24, Devyani completed and integrated its RD Thailand acquisition and added 47 net new stores (including 5 KFC stores in Thailand). The total store count will also hit the 2,000 mark in 2024 instead of 2026.
The company has also entered into a partnership with
