Devyani International Q4 net profit falls 20% to Rs 607.20 mn, revenue jumps 28%
Devyani International, which is the largest franchisee of Yum Brands (KFC and Pizza Hut) in India, said its net profit for the fiscal year 2023 jumped 69.50 per cent to Rs 2,649.97 million, from Rs 1,563.36 million in FY22.
Devyani International Ltd reported a 20.5 decline in its net profit for the March quarter to Rs 607.20 million. (File image) Devyani International Ltd on Wednesday reported a 20.5 decline in its net profit for the March quarter to Rs 607.20 million. The company’s net profit for the same quarter last year stood at Rs 763.89 million.
Devyani International, which is the largest franchisee of Yum Brands (KFC and Pizza Hut) in India, said its net profit for the fiscal year 2023 jumped 69.50 per cent to Rs 2,649.97 million, from Rs 1,563.36 million in FY22.
The QSR chain, which is also the sole franchisee for the Costa Coffee brand in India, also announced that it has re-appointed Manish Dawar as a whole-time Director of the company, for a period of up to 3 years with effect from February 17, 2024.
Devyani International’s revenue from operations in the fourth quarter of last fiscal jumped 27.7 per cent YoY to Rs 7,549.77 million. Its revenue from operations for the same quarter last fiscal stood at Rs 5,907.49 million.
The company’s total income rose 44.2 per cent to Rs 30,303.08 million in the FY23, from Rs 21,001.31 million in FY22.
Devyani International’s non-executive chairman Ravi Jaipuria said the company is hopeful of “a rebound in consumer spending in the second half of the coming fiscal,” and pointed to the “initial signs of inflation stabilizing.”
At the time of writing, Devyani International’s stock was trading 5.22 per cent lower at Rs 172.65 on BSE.
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