Devyani International Q3 PAT up 44.14% at Rs63.12cr on sharply higher sales and lower finance costs

7 Feb 2022 , 07:59 AM

Devyani International reported yoy growth of 64.71% in total sales for the Dec-21 quarter on consolidated basis at Rs624.43cr. On a sequential basis, the revenues were higher for the quarter by 20.99%.

During the quarter, the sales growth came on the back of solid traction in its sales of Pizza Hut, KFC and Taco Bell.

During the quarter, the board of Devyani has approved the amalgamation of Devyani Food Street Pvt Ltd and Devyani Services Mumbai Ltd into Devyani International for better synergies in the QSR business.

The consolidated Profit after tax (PAT) for the Dec-21 quarter was up 44.14% at Rs63.12cr as a turnaround in the sales performance meant better traction in profits.

Additionally, the funds raised via the IPO route in the previous quarter were also partially utilized to repay some of the debt of Devyani, which resulted in a fall in financing costs.

Net margins actually tapered from 11.55% in the Dec-20 quarter to 10.11% in the Dec-21 quarter due to a higher revenue base. Net margins were sharply higher sequentially by nearly 225 basis points.

Financial highlights for Dec-21 compared yoy and sequentially

	Devyani International
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 624.43	₹ 379.10	64.71%	₹ 516.08	20.99%
Net Profit (Rs cr)	₹ 63.12	₹ 43.79	44.14%	₹ 45.70	38.12%
Diluted EPS (Rs)	₹ 0.52	₹ 0.40	₹ 0.39	₹ 4.86
Net Margins	10.11%	11.55%		8.86%