Devyani International Ltd (DIL), one of India’s largest quick service restaurant (QSR) operators, reported a net loss of ₹109.78 crore for the December quarter of FY26, widening from a loss of ₹76.46 crore in the same period last year.

Despite the higher loss, the company posted steady top-line growth, with revenue from operations rising 11.31% year-on-year to ₹1,440.9 crore. Total income, including other income, stood at ₹1,453.22 crore, up 11.48% compared to the year-ago quarter.

Total expenses during the quarter increased 11.71% to ₹1,446.5 crore. However, Devyani International said it saw broad-based improvement in margins, supported by operational efficiencies and performance across formats. Notably, its Biryani By Kilo business, acquired last year through Sky Gate Hospitality, achieved breakeven during the quarter.

Commenting on the performance, chairman Ravi Jaipuria said, “Our business continues to grow in a sustained manner. India operations grew 12.1% year-on-year, while consolidated revenues reached ₹1,441 crore. Our international business continues to gather strength from both an operations and profitability perspective.”

As of December 31, 2025, Devyani International operated 2,279 stores globally, including 1,877 in India and 402 overseas. During the quarter, the company added 95 net new stores, led by 54 KFC and 18 Pizza Hut outlets, while Biryani By Kilo added 13 locations.

The company has also initiated a focused turnaround strategy for Pizza Hut by rationalising loss-making stores and optimising capital expenditure. Separately, Devyani International’s board approved the acquisition of an additional 11.4% stake in Sky Gate Hospitality for ₹57.5 crore.

The Union Budget 2026–27 reflects a growing recognition of tourism and hospitality as key enablers of experience-led travel in India. With a strong emphasis on infrastructure development, skill enhancement, and institutional support, the budget sets a positive direction for long-term destination growth.

For the wellness hospitality sector, the continued focus on India’s traditional systems such as Ayurveda and Yoga signals a renewed intent to strengthen tourism offerings rooted in authenticity, wellbeing, and mindful engagement with cultural and natural heritage.

Sharing its post-budget perspective, Poonam Singh, Dharana at Shillim stated: "The Union Budget 2026–27 reflects a considered recognition of tourism and hospitality as important enablers of experience-led travel. The emphasis on infrastructure development, skill enhancement, and institutional support, alongside a continued focus on India's traditional wellness systems such as Ayurveda and Yoga, signals an intent to strengthen destinations grounded in authenticity, wellbeing, and a mindful engagement with cultural and natural heritage.

For the wellness and hospitality sector, these measures create opportunities to advance sustainable tourism, enable meaningful regional employment, and elevate service standards, reinforcing India's position as a globally credible destination for holistic wellbeing and conscious travel.”

The perspective underlines how policy support can encourage responsible investment, generate regional employment, and raise service standards across wellness-led destinations. As conscious travel continues to gain traction globally, such measures are expected to further strengthen India’s standing as a trusted hub for holistic wellbeing experiences. 

The United States has announced a significant trade agreement with India that will reduce tariffs on Indian goods to 18%, down from the earlier 50%, in exchange for India agreeing to halt purchases of Russian oil.

US President Donald Trump shared the announcement on social media after a call with Prime Minister Narendra Modi, stating that India would now source oil from the United States and potentially from Venezuela. A White House official confirmed that Washington would remove a punitive 25% duty imposed over India’s continued Russian oil imports, which had been added on top of a reciprocal tariff structure.

Prime Minister Modi welcomed the move, calling the revised tariff rate a positive step for Indian exporters. In a post on X, he said India was grateful for the reduction, noting that “Made in India” products would now face lower duties in the US market.

The announcement triggered a strong rally in Indian stocks listed in the US. Shares of Infosys, Wipro, and HDFC Bank closed sharply higher, while the iShares MSCI India ETF also gained, reflecting renewed investor confidence. Indian markets, which had struggled under the weight of higher tariffs and foreign investor outflows in 2025, responded positively to the development.

According to Trump, India has also committed to buying over $500 billion worth of US energy, including oil and coal, along with technology, agricultural products, and other goods. He added that India would move towards reducing both tariff and non-tariff barriers on American products.

While the announcement outlined broad commitments, several operational details remain unclear. The White House has not yet issued a formal proclamation or Federal Register notice specifying when the new tariff rates will take effect or the timeline for India’s exit from Russian oil purchases. Indian ministries have also not released an official statement so far.

Economists believe the agreement brings India closer in line with other Asian economies, where tariff rates typically range between 15% and 19%. Analysts say the deal removes a major drag on Indian exports and could provide stability to the rupee, which had come under pressure amid global trade tensions.

The deal comes shortly after India concluded a landmark trade agreement with the European Union, covering nearly 97% of traded goods by value. Together, these developments mark a shift towards deeper trade integration for India at a time of global economic uncertainty.

India, the world’s third-largest oil importer, has relied heavily on discounted Russian crude since 2022. However, recent data shows that imports from Russia have already begun to slow, suggesting that New Delhi has been preparing for a transition in its energy sourcing strategy