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

Devyani International Q4 result: Devyani International reported a loss of 49 crore in Q4FY24 due to a one-time loss of 42.37 crore. Revenue grew 38.7 per cent to 1,047.1 crore, supported by the Thailand acquisition.

Nishant Kumar
Updated14 May 2024, 01:44 PM IST
Devyani International Q4 result: Devyani International, on May 14, reported a loss of  <span class='webrupee'>₹</span>49 crore for the March quarter of the last financial year (Q4FY24) due to a one-time loss of  <span class='webrupee'>₹</span>42.37 crore.Photo: Ramesh Pathania/Mint
Devyani International Q4 result: Devyani International, on May 14, reported a loss of ₹49 crore for the March quarter of the last financial year (Q4FY24) due to a one-time loss of ₹42.37 crore.Photo: Ramesh Pathania/Mint(Mint)

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.

Also Read: India Exim Bank's PAT rises 62% in FY24 to 2,518 crore

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.

Also Read: Vedanta looks to raise funds through issue of equity shares or FPO on May 16

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.

Also Read: INOX India Q4 results: Net profit jumps 44% YoY to 44 crore; revenue up 17%

"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.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.

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First Published:14 May 2024, 01:44 PM IST
HomeCompaniesCompany ResultsDevyani International Q4 result: Company reports a loss of ₹49 crore; adds 47 stores in the fourth quarter

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