Devyani International's net profit declines for the third quarter of fiscal 2024.
Profit declined by a 92.8% to Rs 5.07 crore in the October-December quarter, it said in its exchange filing on Friday. Revenue increased by 6.6% year-on-year.
Devyani's Q3 FY24 (Consolidated, YoY)
Revenue up 6.6% at Rs. 843.1 crore vs Rs. 790.6 crore
EBITDA down 16% at Rs. 146.2 crore vs Rs. 174 crore
Margins at 17.3% vs 22%
Net profit down 92.8% at Rs. 5.07 crore vs Rs. 71.04 crore
Weak consumer sentiment and depressed consumer spending is what has led to losses for Devyani, however as per Mr. Ravi Jaipuria Non-Executive Chairman, Devyani International Limited this is short lived and they will witness recovery in coming quarters.
Shares of Devyani International fell 2.05% in trade today after the results were declared as against a 1.08% rise in the benchmark Nifty 50.
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