Devyani International Q4 result: Company reports a loss of ₹49 crore; adds 47 stores in the fourth quarter

Devyani International Q4 result: Devyani International, on Tuesday, May 14, reported a loss of ₹49 crore for the March quarter of the last financial year (Q4FY24).

The company reported a one-time loss of ₹42.3 crore. 

The company had reported a profit of ₹60 crore in the same quarter last year, while in the December quarter of FY24, the company's profit was ₹5 crore.

Revenue from operations for the quarter under review came at ₹1,047.1 crore, up 38.7 per cent against the revenue of ₹755 crore in Q4FY23, supported by Thailand acquisition and store additions. Sequentially, the company's consolidated revenue grew 24.2 per cent as in Q3FY24, the company's revenue stood at ₹843.1 crore.

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EBITDA rose 14.4 per cent to ₹172.3 crore against ₹150.6 crore in the same quarter last year, but margins slipped to 16.5 per cent versus 20 per cent YoY.

The company said it opened 256 net new stores across brands and geographies in FY24.

"Over the course of the year, we opened 256 new stores, including 47 in the fourth quarter. As of March 31, our total store count has reached 1,782, including the 283 KFC stores, we acquired in Thailand on January 18, 2024," said Ravi Jaipuria, Non-Executive Chairman, Devyani International.

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Devyani International runs the largest franchisee for Yum Brands, including KFC and Pizza Hut, in India and is the sole franchisee for Costa Coffee brands and cafes in India.

During Q4FY24, the company said it successfully acquired and integrated 283 KFC stores in Thailand, which will strengthen the company's international presence.

Besides, Devyani International entered into a strategic partnership with PVR-INOX to develop and operate food courts at shopping malls across India.

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"The initiative aims to capitalise on the growing trend of 'food on the go' in major consumer spaces. The move is poised to enhance brand visibility and strengthen market presence in key urban areas," the company said.

Devyani International share price traded 0.64 per cent higher at ₹156.40 apiece on BSE around 1:25 pm.

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