Devyani International stock jumps over eight percent in morning trade
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The company has announced the results for the first quarter of the financial year 2024. Let’s take a look:
Financial Results (Q1 FY2024) – YoY Comparison
In the first quarter of FY24, the company’s sales grew by 20.13% to Rs 746.63 crore from Rs 704.72 crore in the same period last year.
During the period, there was a significant increase in operating profit to Rs 173.44 crore in Q1 FY24 as against Rs 164.69 crore in Q1 FY23.
The company incurred a loss of Rs 1.59 crore during the country, while the company had a profit of Rs 74.77 crore in the same quarter last year.
Overall, the company has posted mixed financial performance, but its future prospects look promising. Focusing on ratios, the P/B ratio for Devyani International stands at 20.77. This is an indication that investors are paying a premium for the stock as compared to the book value. This is an indication that the market is very optimistic about the future growth and profitability of the company. Moreover, FIIs are also taking a lot of interest in this stock, which could make it their new favourite. His holding in the company has increased from 9.77 per cent to 12.05 per cent in the June 2023 quarter. The stock has seen a significant buying activity of over 69% in the last two years. Keep a close watch on this trending stock in coming days.
This article is powered by Dalal Street Investment Journal, India’s No. 1 Investment Magazine. Click here to get regular updates about Winning Stocks and Recommendations.
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