Devyani International Q1 Results: Net loss of Rs 1.59 crore from year-ago profit

Devyani International Q1FY24.

Devyani International Ltd on August 4 reported a consolidated loss of Rs 1.59 crore for the June quarter of FY24. This comes in contrast with profit of Rs 74.7 crore a year ago.

Total revenue of the company is Rs 846.6 crore, rising 20 percent from Rs 704.7 crore last year due to steady performance from core brands, the company said in a regulatory filing.

Earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter was at Rs 173 crore sequentially. EBIDTA margin was at 20.5 percent and grew by 50 basis point sequentially. One basis point is one-hundredth of a percentage point.

"I am pleased to share that we have started the new fiscal year on a healthy note, despite facing challenges from a difficult macro environment and depressed consumer spending. Overall, we are confident of achieving our goal of opening 275 to 300 stores this fiscal year, as we continue working towards our ambitious target of reaching 2,000 stores by 2026." said chairman.

The company also appointed Mr. Sreejit Madhavan Nair as CEO, Costa Coffee (Senior Management Personnel) with effect from August 4, 2023.

Following the earnings, share price of Devyani International fell 1.26 percent to Rs 191.30 as of 12:50 pm on NSE.