Devyani International Q2 Results Live: Profit Falls by 99.95% YoY

Devyani International Q2 Results Live : Devyani International declared their Q2 results on 11 Nov, 2024, revealing a significant growth in topline revenue by 49.14% year-on-year. However, the company's profit took a drastic hit, plummeting by 99.95% compared to the previous year.

In contrast to the preceding quarter, the revenue saw a marginal growth of 0.02%, while profits experienced a substantial decrease of 99.94%. This stark decline in profitability has raised eyebrows among investors and analysts alike.

The company's Selling, General & Administrative (SG&A) expenses rose by 9.04% quarter-on-quarter and surged by 65.35% year-on-year, contributing to the severe drop in profits. Such an increase in expenses could pose challenges for the company moving forward.

Operating income also reflected a downturn, decreasing by 34.65% from the previous quarter, although it managed to increase by 10.17% year-on-year. This mixed performance highlights the pressures the company is currently facing.

Earnings per share (EPS) for Q2 stood at ₹0, a staggering decrease of 99.96% year-on-year, signaling a concerning trend in the company's financial health.

Despite these challenges, Devyani International has shown resilience in its stock performance, delivering a 3.84% return in the last week, and a 12.39% return over the past six months, although it has seen a decline of 9.88% year-to-date.

Currently, Devyani International holds a market capitalization of ₹21,061.41 Crores, with its stock trading between a 52-week high of ₹222.74 and a low of ₹142.25.

As of 12 Nov, 2024, out of 19 analysts covering the company, the sentiment is mixed: 4 analysts have issued Sell ratings, 3 have given Hold ratings, while 6 analysts have suggested Buy ratings and another 6 have rated it as Strong Buy. The consensus recommendation remains a Buy, indicating some confidence in the company's future potential despite current setbacks.