For Q2FY24, DEVYANI’s revenue was at INR 8,195 Mn, a growth of 9.6% YoY but a decline of 3.2% QoQ. Revenue growth was supported by new store additions. Core brands registered a healthy performance, despite a challenging macro environment and low consumer sentiment. The quarter was impacted by seasonal weakness and an extended one month of ‘Shravan’ leading to a sizable part of the Indian population turning to vegetarian food consumption.