Devyani International declared its fourth quarter earnings on Wednesday, wherein revenues jump 28 percent to Rs 755 crore versus Rs 591 crore in the same quarter of last year. The earnings before interest, tax, depreciation and amortisation grew 11 percent to Rs 155 crore. The operating profit margin at 20.4 percent is lower than 23.6 percent in same quarter of last year, while net profits are lower by 20 percent to Rs 61 crore.
From the core brands, KFC generated revenues of Rs 444 crore, Rs 170 crore from Pizza Hut and Rs 33 crore from Costa Coffee. KFC, Pizza Hut and Costa Coffee revenues grew 26 percent, 16 percent and 16 percent year on year respectively.
The stock plummets 5 percent on the exchanges post its fourth quarter result declaration on May 17.
The company now operates 1,243 stores across brands and countries, doubling over past three years. KFC opens 29 new stores in fourth quarter and has a total of 490 stores at the year end of FY23. Pizza Hut has over 500 total stores after opening 23 new stores in fourth quarter. Costa Coffee has crossed total 100 stores as of March 31, 2023. The QSR chain's highest count of stores are in North India with 37 percent share or 413 stores. This includes NCR with 202 stores.
The company has higher number of stores in non-metro cities with 53 percent share, while the rest 47 percent stores are in metro cities in India. The metro cities include Delhi NCR, Mumbai, Kolkata, Bangalore, Hyderabad, Ahmedabad,
Pune.
"We are seeing initial signs of inflation stabilizing. This gives us hope for a rebound in consumer spending in second half of the coming fiscal." Chairman said in the company's press release.
For the full financial year, revenues are higher by 44 percent to Rs 2,997 crore, while EBITDA rose to 655 crore and Profits stood at Rs 265 crore.
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