In Q4 FY 2024, Devyani International reported a total revenue of INR 1,047 Crore representing a 39% YoY increase from the same period last year when it stood at Rs.754.9 Cr.
Devyani International, the renowned parent company of KFC, Pizza Hut and Costa Coffee, announced a consolidated net loss of Rs 49 crore for the March quarter compared to Rs. 60 crore profit during the same period last year.
In a regulatory filing on May 14, the company declared that it had generated revenues amounting to Rupees One Thousand Forty Seven Crore in this quarter which is 38.69% higher than its previous year revenue of Rs. 754.9 crore.
Earnings Before Interest, Taxes, Depreciation and Amortization (EBIDTA) of Devyani International stood at INR: 172.3 crores showing a growth by 14.4%. However EBITDA margins have come down from20% in this quarter as compared to previous year’s figure of16.5%.
Also this term, Devyani International reported one-off loss worth Rs 42.3 crore.
Remarkably; its acquisition Thailand and new store openings led to a revenue milestone above Rs 10 bn in Q4.During such challenging market conditions; reworked menu prices also contributed to this sales surge.
The firm looks forward optimistically at India’s future in 2024; benefiting from favorable market conditions. Devyani International has now expanded into Thailand alongside its Indian,Nepalese and Nigerian operations.
“In FY24 we were aggressively working on our expansion plan. We opened up two hundred fifty six stores during the year out of which forty seven came up during the last quarter.The total number of our stores was one thousand seven hundred eighty two as at March thirty one with three hundred KFC outlets acquired in Thailand on January eighteen,” said Ravi Jaipuria who is Non-Executive Chairman for Devyani International Limited.
This strategic purchase by the organization of its own KFC franchise in Thailand was an important step towards expanding worldwide presence with regard to its long-term goals. In the country, it is also making its Food Courts business more robust to serve the expanding population of tourists and shoppers in India.
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India is witnessing a rise in religious and medical tourism as well as becoming a shopping hub; thereby increasing demand for fast food that is, at the same time, convenient. Therefore Devyani International has partnered with PVR INOX to create a chain of malls with food courts all over the country that merge cinema with dining experiences in order to increase its presence in the market.
As at 1:08 PM on May 15th Bombay Stock Exchange (BSE) shares of Devyani International were priced at Rs 156.20 recording a gain of 0.51%.
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