Brands
Reliance Power profit surges 49 per cent to Rs 87 crore
MUMBAI: Reliance Power lit up its September quarter with a sharp turnaround in profits, marking a strong recovery for the energy player after a patchy past year.
The company reported a consolidated profit of Rs 8,732 lakh for the quarter ended 30 September 2025, rising from Rs 4,468 lakh in the previous quarter. Total income touched Rs 2,06,710 lakh, slightly higher than Rs 2,02,531 lakh in the June quarter, as both generation and cost efficiencies improved.
Revenue from operations rose to Rs 1,97,403 lakh, up from Rs 1,88,558 lakh in the preceding quarter, while expenses remained largely contained at Rs 1,96,890 lakh. Profit before tax stood at Rs 10,820 lakh, more than 49 per cent higher than the last quarter.
For the half year ended September 2025, Reliance Power’s total income reached Rs 4,09,241 lakh with a net profit of Rs 13,200 lakh, reflecting a solid turnaround from last year’s loss-heavy phase. The company’s earnings per share stood at Rs 0.21 for the quarter, up from Rs 0.11 in June.
Finance costs, once the heaviest drag on performance, eased to Rs 39,502 lakh compared with Rs 56,216 lakh in the same period last year. Depreciation also moderated to Rs 20,762 lakh, aiding the recovery in margins.
Reliance Power’s total assets grew to Rs 41,58,726 lakh as of 30 September 2025, while equity levels rose with a capital base of Rs 4,13,578 lakh after the conversion of warrants into shares earlier this year.
On the operational front, the company continued to face challenges with its Rajasthan solar project, though management reaffirmed confidence in meeting obligations through asset monetisation and efficiency gains.
With costs cooling and cash flow flickering back to green, Reliance Power seems to have found its charge again.
Brands
Devyani International Ltd plans three-subsidiary merger to streamline operations
QSR operator moves to streamline structure and unlock operational synergies
Devyani International is tightening its corporate kitchen. The quick-service restaurant operator has approved a scheme to merge three subsidiaries—Sky Gate Hospitality, Blackvelvet Hospitality and Say Chefs Eatery—into the parent company in a bid to simplify its structure and sharpen operational efficiency.
The decision was cleared at a board meeting on March 10 and disclosed in a regulatory filing to the stock exchanges. The merger will take effect from April 1, 2025, subject to statutory approvals.
All three transferor companies are direct or indirect wholly owned subsidiaries, meaning no fresh shares will be issued and the shareholding pattern of Devyani International will remain unchanged once the scheme is completed.
The subsidiaries together operate more than 100 outlets—including dine-in restaurants and cloud kitchens, spread across over 40 cities such as Delhi NCR, Mumbai, Kolkata and Bengaluru.
Devyani International, the largest franchisee of Yum Brands in India, said the consolidation is aimed at generating operational synergies, optimising resource utilisation and reducing layers within the corporate structure.
Financially, the move brings together businesses of varying scale. As of March 31, 2025, Devyani International reported a net worth of Rs 10,381.02 million and turnover of Rs 33,493.33 million. Sky Gate Hospitality posted a net worth of Rs 761.14 million with turnover of Rs 2,657.57 million, while Blackvelvet Hospitality and Say Chefs Eatery reported smaller operations and negative net worth.
The merger will consolidate these operations under a single corporate umbrella as the company sharpens its focus on scale and efficiency.
Devyani International currently runs more than 2,000 outlets across over 280 cities in India, Nigeria, Nepal and Thailand. Its portfolio includes franchise rights for brands such as Pizza Hut, KFC, Costa Coffee, Tea Live, New York Fries and Sanook Kitchen, alongside its own food brands.
With the paperwork underway and approvals pending, Devyani is essentially clearing the corporate clutter—turning three subsidiaries into one tighter, leaner operation. In the QSR world, even the back office needs a spring clean.
