A leading Indian QSR operator reports 44.33 per cent revenue growth and profit turnaround, adding 54 new stores and aiming for 2,000
Quarterly Results Highlights Revenue Growth and Profit Turnaround for Major Indian Quick Service Restaurant Operator; New Store Openings and Expansion Plans Strengthen Market Position
Devyani International Ltd, one of the largest Quick Service Restaurant (QSR) operators in India, has announced its Quarterly Results for the quarter ended June 30, 2024.
In the quarterly results, the company saw its revenue increase from Rs 8,534.58 crore in June 2023 to Rs 12,318.14 crore in June 2024, reflecting a growth of 44.33 per cent year-over-year and 16.05 per cent quarter-over-quarter. However, net profit showed a significant improvement, turning from a loss of Rs 15.95 crore in June 2023 and Rs 489.5 crore in March 2024 to a positive Rs 224.3 crore in June 2024.
DIL added 54 net new stores with an aim to reach the consumers in its under-penetrated markets and offering an enhanced customer experience and service. With this addition, DlL’s total store count moves to 1,836 stores as of June 30, 2024.
DIL is on track to meet the target of 2000 stores across its brand portfolio within the current financial year.
DSIJ’s ' Upstream Pick’ service recommends well researched contrarian stocks with high potential and high reward. If this interests you, do download the service details here.
Commenting on the performance for Q1 FY2025 Mr. Ravi Jaipuria, Non-Executive Chairman, Devyani International Limited 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 Limited (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.
Investors should keep an eye on this Mid-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.