KFC, Pizza Hut operator Devyani International reports 44% YoY revenue growth for Q1FY25; check details

The stock opened at ₹174.10, compared to the previous close of ₹177.85. However, it gained further to hit an intraday high of ₹188.57 on the NSE.

Of Devyani International’s total revenue, KFC India contributed ₹555 crore, followed by Pizza Hut with ₹182 crore and Costa Coffee with ₹45 crore.

The company’s gross margins remained flat on quarter-on-quarter basis at 69.2%

The quick service restaurant (QSR) operator posted a net profit of ₹22.43 crore in the June 2024 quarter, against a loss of ₹1.59 crore in the corresponding quarter of the last fiscal. In Q4FY24, the company had posted a loss of ₹48.9 crore. EBITDA for the June 2024 quarter was ₹223.4 crore, with margins at 18.3% margin.

Devyani International Ltd, which operates brands like Pizza Hut, Costa Coffee, and KFC in India, Nepal, Nigeria, and Thailand, has announced the addition of 54 net new stores to boost penetration. The company is projected to open between 250 and 275 new stores in FY25. The company’s total store count was 1,836 as of June 30, 2024.

It had 1,379 core brand stores in India, with metro cities like Delhi NCR, Bengaluru, Kolkata and Hyderabad contributing 48%.

The company had 723 core brand stores in non-metro cities in India, highlighting a deeper market penetration beyond the big cities.

“We witnessed an improved performance in Q1, driven by seasonality and cost leverage from better ADS across our businesses. As announced earlier, we are on track to achieve a total store count of 2,000 stores within the current financial year," said Ravi Jaipuria, non-executive chairman of Devyani International Limited.

Devyani International shares closed trade 0.65% higher on NSE at ₹179 per piece on August 5.