Devyani International's revenue up by 65% YoY at Rs 624.40cr in Q3FY22

4 Feb 2022 , 03:57 PM

Devyani International Limited announced results for the quarter ended December 2021 and registered the highest-ever quarterly results. Its performance remains ahead of pre-pandemic levels on the back of new store openings along with solid demand momentum.

The company reported consolidated revenue of Rs 624.40 crore for Q3 FY’22, up by 65% YoY. While revenue for the 9M period ending December 2021 stood at Rs 1493.30 crore, 113% year-on-year higher than the revenue for the previous 9M period.

Its PAT for the quarter ended December 2021 stood at Rs 66 crore as against Rs 47.20 crore for the previous corresponding quarter, gaining 40% YoY. For the 9M-period ended December 2021, PAT stood at Rs 79.20 crore.

The company’s EBITDA for the quarter ended December 2021 stood at Rs 147.80 crore, up by 67% YoY, while EBITDA for the 9M period ending December 2021 stood at Rs 332.70 crore. Its gross margins expanded by 270 basis points YoY to 71.4% in Q3 FY22.

Company’s core brand portfolio reported a captivating all-round performance in Q3 FY’22. SSSG across both brands remained robust with KFC at 24% and Pizza Hut at 25%. Pizza Hut continued to demonstrate strong operational growth in Q3 FY22.

Costa Coffee’s revenue grew by a whopping 88% YoY at Rs 14.30 crore amidst successful expansion on track.

During the quarter, the company has opened 81 new stores, the highest-ever store openings in a quarter recorded by the company. As of December 31, 2021, DIL operated 339 KFC stores, 391 Pizza Hut stores, and 50 Costa Coffee stores in India. The total system store count stands at 884 across its entire brand portfolio.

DIL’s stock closed 3.23% or Rs 5.95 lower at Rs 178.15 against its previous closing price of Rs 184.10 per piece. It touched day’s high of Rs 186.