Devyani International, the leading franchise of Yum! Brands, which encompasses popular chains like KFC and Pizza Hut in India, reported a 19 per cent year-on-year (YoY) decline in consolidated net profit at Rs 61 crore for the quarter ended on 31 March, compared to Rs 76 crore the previous year in the same quarter.
However, its revenue from operations, grew by 28 per cent YoY at Rs 755 crore in the quarter gone by, against Rs 591 crore in Q4FY22
Also, the company opened a total of 305 new stores across various brands and locations in the fiscal year 2023.
“We continue to strengthen its presence in the domestic markets by expanding its brand portfolio through new store openings, taking its brands closer to the customers and solidifying its presence in the markets,” it said.
The QSR chain operates 543 KFC stores, 510 Pizza Hut stores and 112 Costa Coffee stores across its portfolio. The total system store count grew to 1,243 as compared to 938 in FY22.
“In FY23, DIL demonstrated strong growth momentum and we have crossed some very significant milestones. Our consolidated revenues have reached Rs 3,000 crore,” said Ravi Jaipuria, Non-Executive Chairman, Devyani International.
“We continue to actively pursue new trade areas in metro cities and upcoming locations. This will help us take our brands closer to our customers and give them better experience, thus solidifying our presence in the domestic markets,” Jaipuria said.
