Devyani International, the KFC, Pizza Hut and Costa Coffee operator, reported a consolidated net loss of Rs 49 crore for the March quarter. The company reported a profit of Rs 60 crore in the year-ago period.
Total revenue was at Rs 1,047 crore, up 38.69 percent from Rs 754.9 crore a year ago the quick service restaurant chain said in a regulatory filing on May 14.
Earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter was at Rs 172.3 crore growing by 14.4 percent. EBITDA margins reported at 16.5 percent compared to 20 percent in the year ago period.
The company experienced an one time loss at Rs 42.3 crore this quarter.
The company reached a significant revenue milestone, surpassing Rs. 10 billion in the fourth quarter, the company said in an exchange filing.
This achievement was driven by factors including the acquisition in Thailand and the addition of new stores. Additionally, strategic actions like adjusting menu prices in a challenging environment played a role in boosting revenue growth.
The forecast for India in 2024 looks promising, and the company is in a strong position to take advantage of this positive trend. Furthermore, Devyani International has broadened its range by entering the Thailand market, extending beyond its existing presence in India, Nepal, and Nigeria.
" In 2024, we have diligently focused on our strategic expansion goals. 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 Limited.
In the past year, the company successfully acquired and integrated the KFC business in Thailand, which was a major milestone for us, expanding our global presence in line with our long-term goals. The company is also focusing on growing the domestic Food Courts business in response to India's rise as a key destination for travel and shopping.
With travel picking up, especially religious and medical tourism, and India becoming a popular shopping spot, the company sees a growing demand for food on the go.
To tap into this trend, the company is partnering with PVR INOX to develop and operate Food Courts in malls nationwide, combining movies and food to strengthen presence and boost brands.
Following the earnings, Devyani International shares were trading at Rs 156.20 up 0.51 percent at 1:08 pm on BSE.
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