Conference Call with Devyani International Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Restaurant firm Devyani International announced Q3FY23 results: Consolidated Q3FY23: Revenue higher by 27% YoY to Rs 7,906 million. EBITDA increases to Rs 1,739 million. PAT stood at Rs 710 million. Brand contribution for Q3 stood at Rs 1,450 million with margins at 18.3%. Consolidated 9MFY23: Revenue higher by 50% YoY to Rs 22,427 million. EBITDA increases to Rs 5,037 million. PAT came in at Rs 2,026 million. EPS for 9MFY23 came in at Rs 1.59. Operating EBITDA (pre-IndAS) also grew to Rs 1,172 million with operating EBITDA margins at 14.8%. Continued the momentum in new store additions – opened 81 net new stores in Q3FY23, taking the total count to 1,177 as of December 31, 2022. Commenting on the performance for Q3 & 9M FY23 Mr. Ravi Jaipuria, Non-Executive Chairman, Devyani International Limited said, “Consolidated quarterly revenues stood at Rs 7,906 million – a growth of nearly 27% over the corresponding period last year. Reported EBITDA, on a Post Ind AS basis, reached Rs 1,739 million, resulting in a reported EBITDA margin of 22%. Innovation remains a strong pillar of our growth strategy across our brand portfolio, and we will continue to delight our customers with many such products in the coming quarters. We remain bullish on our brands and the Indian market. We believe that the current consumer demand slow-down is transient and once inflation stabilizes, we expect consumer spending to improve which will help our businesses. In the meantime we remain focused on refining our processes, maintaining product quality and enhancing our execution capabilities.” Result PDF