22 Feb 2024 , 01:00 PM
Devyani International Limited’s shares declined by nearly 3% to ₹162.50 on February 22, breaking its four-day gaining streak.
Nippon India Mutual Fund acquired 80 lakh shares (0.66% stake) at an average price of ₹164, following the complete divestment of a 4.4% stake by Yum Restaurant India Private Ltd, valuing the transaction at ₹871 Crore.
At the time of writing, the stock was trading at ₹165.25, marking a 1.08% decrease from the previous close on the NSE. Over the last three months, the stock has experienced a 10% decline on the bourses, and at the time of writing, it was trading at ₹165.70, reflecting a 0.33% dip compared to the previous close.
Devyani International reported an 87% decline in quarterly profit, attributing it to subdued consumer sentiment. The consolidated net profit dropped to ₹9.6 Crore from ₹71.6 Crore in the corresponding period a year ago.
The company’s EBITDA also witnessed a 17% decrease, amounting to ₹146 Crore compared to ₹175 Crore in the previous year, with EBITDA margins recorded at 17.3%.
Devyani International is primarily involved in developing, managing, and operating quick-service restaurants and food courts for brands like Pizza Hut, KFC, Costa Coffee, and Vaango.
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