Business News

Devyani International (DIL), a leading QSR operator in India, reported a consolidated net loss of Rs 4.92 crore for the quarter ended September 30, 2024, compared to a net profit of Rs 35.8 crore in the same period last year. However, the company's operating revenue surged 49% year-on-year to Rs 1,222 crore, up from Rs 819.4 crore in Q2FY24.EBITDA for the quarter stood at Rs 198.7 crore, with a margin of 16.3%, down from 18.3% in the previous quarter.Total expenses increased by 55.21% to Rs 1,230.9 crore in Q2 FY25, compared to Rs 793 crore in Q2 FY24.The company expanded its footprint by adding 85 new stores across its brand portfolio during Q2.DIL also announced that it has secured exclusive master franchise rights for three modern QSR brands: TeaLive, New York Fries and Sanook Kitchen. Each partnership is unique and shall help DIL to achieve its growth strategy.As DIL’s existing brands continue to drive store growth and introduce exciting new menu offerings, DIL broadens its offerings to include a new category of modern food & beverage choices by expanding its portfolio of brands.Ravi Jaipuria, Non-Executive Chairman, Devyani International Limited said, “We are happy to welcome new brands to DIL family, catering to youth categories such as handcrafted tea, fresh cut fries and authentic Thai & Asian cuisine. The new partnerships reflect our commitment to bringing diverse, high-quality contemporary food & beverages brands to our customers, while driving sustainable growth for DIL. With exclusive rights for these brands in India, DIL is consolidating its strategy of ‘FOOD ON THE GO’ and ‘HOUSE OF BRANDS’."We remain committed to our investments across DIL’s brand portfolio to broaden our reach, engage target consumers, and seize growth opportunities across the country. While we recognize the current subdued environment in the QSR industry, we are confident that the current headwinds are transient in nature. As firm believers in India’s growth story, we are well positioned to capitalize on future opportunities and delivering value to all our stakeholders," Jaipuria added.As of September 30, 2024, DIL operates over 1,900 stores across more than 260 cities in India, Thailand, Nigeria, and Nepal. The company is the largest franchisee for Yum Brands in India, operating KFC and Pizza Hut outlets, and is also the exclusive franchise for Costa Coffee.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)