Devyani International Ltd has solidified its position in the Quick Service Restaurant (QSR) sector by acquiring 283 KFC stores in Thailand, bringing the total store count to 1,735.
Despite subdued consumer sentiment, DIL added 94 new stores in Q3, and is aiming to open 250-275 outlets in the fiscal year. Consolidated revenue at Rs 843.1 crore, reflects 6.6 per cent YoY growth, with EBITDA at Rs 146.3 crore and an EBITDA margin of 17.4 per cent.
Ravi Jaipuria, Non-Executive Chairman, DIL said, “We believe that the weak consumer sentiment and depressed consumer spending is temporary and short-lived, and we are optimistic about witnessing a recovery over the next few quarters. Amid these challenges, our operating and financial performance has remained stable, and we continue to invest in the business for long-term growth..”
The shares were down 1.44 per cent at Rs 175.15 at 12.38 pm on the BSE.