DEVYANI · Consumer Services
Devyani International Ltd. reported revenue of ₹1,357 cr for April to June 2025, +11.0% on the year and +11.9% on the quarter. It is the highest quarterly revenue in the last 9 quarters on record. Over the last four quarters revenue comes to ₹5,086 cr, +29.4% on the four before.
Operating profit (EBITDA) was ₹206 cr, a margin of 15.2%, −250 bps on the year and −15 bps on the quarter. Over the last 8 quarters the margin has ranged from 12.4% to 18.8%, averaging 16.2%. Operating costs grew +14.4%, faster than revenue at +11.0%, so operating profit grew less than sales.
Net profit was ₹2.0 cr, −90.9% on the year and — on the quarter, with earnings per share of ₹0.03. Profit before other income, one-offs and tax fell 147.6%, so 57 points of the headline growth came from outside the core business. Profit over the last four quarters totals −₹28.0 cr, −300.0% on the four before.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Half or more of pre-tax profit came from other income. What is it, and does it repeat?
Other income was 433% of profit before tax, against 32% a year earlier.
Source: Quarterly statements
Operating margin slipped on the year.
EBITDA margin 15.2%, −250 bps on the year (−15 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹819 cr | ₹843 cr | ₹1,047 cr | ₹1,222 cr | ₹1,222 cr | ₹1,294 cr | ₹1,213 cr | ₹1,357 cr | ₹1,377 cr | ₹1,441 cr | ₹1,437 cr | ₹1,581 cr |
| YoY | — | — | — | +44% | +49% | +53% | +16% | +11% | +13% | +11% | +18% | +17% |
| EBITDA margin | 18.8% | 17.3% | 12.4% | 17.7% | 16.0% | 16.5% | 15.3% | 15.2% | 13.9% | 16.0% | 15.3% | 16.1% |
| Other income, % of PBT | −37% | 50% | — | 32% | — | 100% | — | 433% | — | — | — | 83% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | — | 48% | — | 27% | — | — | — | 19% | — | — | — | 25% |
| Net profit | ₹36.0 cr | ₹5.0 cr | −₹49.0 cr | ₹22.0 cr | −₹5.0 cr | −₹8.0 cr | −₹17.0 cr | ₹2.0 cr | −₹24.0 cr | −₹11.0 cr | −₹10.0 cr | ₹17.0 cr |
| YoY | — | — | — | — | −114% | −260% | — | −91% | — | — | — | +750% |
| Core profit YoY | — | — | — | +250% | −135% | −100% | — | −148% | — | — | — | — |
| EPS | ₹0.28 | ₹0.08 | −₹0.06 | ₹0.25 | ₹0.00 | ₹0.00 | −₹0.12 | ₹0.03 | −₹0.18 | −₹0.08 | −₹0.08 | ₹0.12 |
| Flags | 1 | 1 | · | 1 | 2 | 2 | ✓ | 1 | ✓ | ✓ | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Devyani International Ltd. reported revenue of ₹1,357 cr (+11.0% on the year) and net profit of ₹2.0 cr (−90.9% on the year) for April to June 2025.
Profit before other income, exceptional items and tax moved −147.6% on the year, against −90.9% for reported profit.
1 check raised a question: Half or more of pre-tax profit came from other income. What is it, and does it repeat?
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.