Devyani Intl records PAT of over Rs 22 crore in Q1; total store count rises to 1,836 outlets

Devyani International has reported a consolidated net profit of Rs 22.4 crore in Q1 FY25 as against a net loss of Rs 1.6 crore in Q1 FY24.

Revenue from operations increased by 44% year-over-year to Rs 1,221.9 crore in the June24 quarter.

Total expenses rose by 46% to Rs 621.6 crore in Q1 FY25 as compared with Q1 FY24, due to higher raw material cost (up 53% YoY), higher employee benefits expense (up 50% YoY) and higher other expenses (up 44% YoY).

While EBITDA improved by 29% to Rs 223.4 crore, EBITDA margin declined by 220 basis points to 18.3% in Q1 FY25 as compared with the same period last year.

Profit before tax in Q1 FY25 stood at Rs 30.5 crore, which is significantly higher as compared with the PBT of Rs 13 crore posted in Q1 FY24.

Devyani International said that it has opened 54 net new stores, taking the total store count to 1,836. It expects to open 250 275 new stores in FY25.

Ravi Jaipuria, non-executive chairman, Devyani International, said: We witnessed an improved performance for DIL in Q1, driven by seasonality and cost leverage from better ADS across our businesses. Our Thailand business also demonstrates growth with new store openings and a customer delight strategy.

We remain committed to expanding our store footprint and making our brands more accessible to our consumers. As announced earlier, we are on track to achieve a total store count of 2,000 stores within the current financial year.

We are also focused on enhancing various institutional businesses, including food courts and airport presence. We are delighted with the positive progress in Q1 and shall continue to be relentless in our plans for the upcoming quarters.

Devyani International (DIL), among the fastest growing Chain Quick Service Restaurant (QSR) operators in the country, is the largest franchisee for Yum Brands (KFC & Pizza Hut) in India. The Company is also the sole franchisee for Costa Coffee Brand and stores in India. In addition, DIL caters to the South Indian vegetarian food lovers with Vaango, launched over a decade ago and is a prominent Brand in the Food Retail Business (FRB) category with its Food Courts. DIL has a strong presence across Airports in India where it serves a variety of F&B offerings.

The scrip fell 2.89% to currently trade at Rs 173 on the BSE.

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