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Shares of KFC, Pizza Hut Indian operator fall over 4% after Q4 earnings

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In terms of volume, 5.40 lakh shares of the company were traded on the BSE and over 70.64 lakh shares on the NSE during the day

New Delhi: Shares of Devyani International Ltd, a quick service restaurant (QSR) operator that operates brands like KFC, Pizza Hut and Costa Coffee among other brands in India, fell more than 4%on Wednesday after the company reported a 21.15% decline in consolidated net profit for the March quarter.

The stock tumbled 4.45% to settle at Rs 174.05 apiece on the BSE. During the day, it tanked 8.72% to Rs 166.25.

On the NSE, it fell 4.31% to finish at Rs 174 per share.

In terms of volume, 5.40 lakh shares of the company were traded on the BSE and over 70.64 lakh shares on the NSE during the day.

Devyani International Ltd on Wednesday reported a decline of 21.15% in its consolidated net profit to Rs 59.87 crore for the fourth quarter ended March 31, 2023.

The company, which is the largest franchisee of Yum Brands in India, having Pizza Hut, KFC, and Costa Coffee, reported a net profit of Rs 75.93 crore in the January-March quarter a year ago.

Its revenue from operations during the quarter was 27.8% higher to Rs 754.97 crore as against Rs 590.74 crore in the year-ago period, according to an exchange filing by Devyani International Ltd (DIL).

DIL’s total expenses were at Rs 724.76 crore, up 32.25%, from the corresponding period a year ago.

For the fiscal year ended March 2023, DIL’s net profit was up 69.23% at Rs 262.51 crore. It had reported a net profit of Rs 155.11 crore in the previous fiscal.

Its revenue from operations was at Rs 2,997.72 crore in FY23, 43.84% higher than the previous fiscal year.

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