Devyani International Q4 earnings: Shares slip 9% as net profit falls to Rs 60 crore

Shares of Devyani International Ltd fell 9% today after the firm reported a 21% fall in Q4 profit to Rs 59.8 crore against Rs 75.93 crore profit in the corresponding quarter of the previous fiscal. Shares of Devyani International slipped 8.73% to Rs 166.25 against the previous close of Rs 182.15 on BSE. Later, the stock ended 4.45% lower at Rs 174.05.  

The stock of Devyani International has declined 3.68% this year and gained 8.75% in the last one year. Total 5.40 lakh shares of the firm changed hands amounting to a turnover of Rs 9.52 crore on BSE today. Market cap of the firm fell to Rs 20,980 crore.  

In terms of technicals, the relative strength index (RSI) of Devyani International stock stands at 76.5, signaling it's trading neither in the oversold nor in the overbought zone. The stock has a beta of 1, indicating average volatility in a year. Devyani International stock stands higher than the 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.  

The revenue of the QSR chain during Q4FY23 climbed 27.8% to Rs 755 crore from Rs 590.7 crore on a year-on-year basis. 

Earnings before interest, tax, depreciation and amortization (EBITDA) rose 10.7% to Rs 154.6 crore from Rs 139.6 crore. EBITDA margin fell to 20.4% from 23.6%, YoY. Net profit zoomed 69.23% to Rs 262.51 crore in the last fiscal against net profit of Rs 155.11 crore in the previous fiscal. 

Revenue from operations climbed 43.84%  to Rs 2,997.72 crore in FY23 against Rs 2084 crore in the previous fiscal. 

Devyani International is one of the largest franchisees of Yum brands such as KFC, Pizza Hut and Taco Bells in the country. In addition, the company is a franchisee for the Costa Coffee brand and stores in India. 

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