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India KFC operator Devyani International posts 43% drop in Q2 profit

Reuters · 1y ago

India KFC operator Devyani International posts 43% drop in Q2 profit

Indian fast-food operator Devyani International reported a 43.2% decline in quarterly profit due to increased raw material costs at their KFC and Pizza Hut chains. The company's net profit fell to 333.5 million rupees ($4.01 million) for the second quarter, despite a boost in demand from promotions. Devyani's revenue, however, rose 9.6% to 8.19 billion rupees, driven by special offers at KFC and Pizza Hut. Rising ingredient prices and high inflation have impacted the company's performance, along with a general slowdown in consumer spending in India.

Related News

KFC operator Devyani International enters Thailand with $129 mn deal

VCCircle

VCCircle · 1y ago

KFC operator Devyani International enters Thailand with $129 mn deal

Indian company Devyani International has announced its entry into the Thai market with the acquisition of Restaurants Development Co for $128.9 million. The deal is expected to be completed by March 2024. Devyani International, which is already a major operator of KFC outlets in India, Nepal, and Nigeria, has acquired the Thai company through its Dubai unit. The acquisition will add to Devyani's portfolio of over 500 KFC outlets globally.

Devyani International to acquire majority stake in 'Biryani by Kilo'

YourStory

YourStory · 3m ago

Devyani International to acquire majority stake in 'Biryani by Kilo'

Devyani International Ltd, a significant operator of franchise restaurants like KFC, Pizza Hut, and Costa Coffee, plans to acquire a majority stake in Sky Gate Hospitality, which runs 'Biryani by Kilo', through regulatory agreement. The acquisition will expand Devyani’s portfolio, adding to their existing brands including Vaango. Founded in 2015, 'Biryani by Kilo' has over 70 dine-in outlets and other brands, enhancing Devyani's reach in India’s QSR market.

Yum! craves Devyani-Sapphire combo

Economic Times

Economic Times · 1m ago

Yum! craves Devyani-Sapphire combo

Yum! Brands Inc is negotiating a merger between its Indian franchisee partners, Devyani International Ltd (DIL) and Sapphire Foods India Ltd, potentially through a share swap deal. This strategy aims to consolidate KFC and Pizza Hut operations in India. DIL, owned by RJ Corp, seeks to diversify beyond soft drinks, indicating growth opportunities in food services despite slow economic growth. Both companies face challenges from reduced consumer spending and increased competition in the sector.

Gainers & Losers: Stocks that moved the most on September 24

Money Control

Money Control · 10m ago

Gainers & Losers: Stocks that moved the most on September 24

Indian equity indices closed on a flat note on September 24, with the Nifty crossing 26,000 for the first time. Reliance Power's stock surged after announcing a preferential issue of equity shares. Sapphire Foods, the operator of Pizza Hut and KFC, saw a surge in share price due to heavy volumes. Spandana Sphoorty Financial sold its stressed loan portfolio, while Firstsource Solutions acquired UK-based Ascensos. Metal stocks rose following China's central bank measures to boost the economy. Fusion Finance and PB Fintech saw a drop in stock price, while Punjab National Bank launched a Qualified Institutional Placement.

Whirlpool to sell 24% stake in India business to reduce debt

Reuters · 1y ago

Whirlpool to sell 24% stake in India business to reduce debt

Whirlpool plans to sell up to 24% of its stake in Whirlpool of India to alleviate debt, following the Indian unit's 23.7% drop in Q2 profit due to competition and pricing pressures. The sale won't impact Whirlpool's full-year forecast. Despite challenges, Whirlpool sees India as a vital growth market, committing to expansion through new product launches and the recently acquired Elica India business. The company will maintain a majority interest post-sale.

McDonald's India franchisee Westlife posts surprise profit drop on higher costs

Reuters · 1y ago

McDonald's India franchisee Westlife posts surprise profit drop on higher costs

Westlife Foodworld, the operator of McDonald's restaurants in west and south India, reported lower-than-expected quarterly earnings due to rising costs, despite increased sales of burgers and fried chicken. Their net profit dropped to 223.7 million rupees from 315.4 million rupees a year earlier, while expenses rose by 9.7%. Revenue increased by 7.4% due to discounted meals and new store openings. The company faces challenges in a tough market, but it plans to expand its business. Westlife's shares declined by 2.2%.

Gainers & Losers: Stocks that moved the most on October 30

Money Control

Money Control · 9m ago

Gainers & Losers: Stocks that moved the most on October 30

Indian benchmark stocks, Sensex and Nifty 50, ended with losses on October 30 as selling pressure in pharma and financial stocks offset gains in capital goods and select auto stocks. Sensex closed down 0.5% or 400 points at 79,965, while Nifty was down 116 points at 24,350. In other news, Garden Reach Shipbuilders secured a significant order, Adani Enterprises reported strong Q2 earnings, and Force Motors saw a 43% jump in net profit. Meanwhile, Maruti Suzuki's stock rose despite negative calls from brokerages due to weak Q2 earnings.

Gainers & Losers: 10 stocks that moved the most on October 17

Money Control

Money Control · 9m ago

Gainers & Losers: 10 stocks that moved the most on October 17

The Sensex and Nifty continued to decline, driven by foreign investor selling, weak earnings reports, and geopolitical tensions. Bajaj Auto's reduced sales growth guidance led to a significant drop in the Nifty Auto index. CRISIL's shares slipped despite reporting a YoY increase in net profit. Kolte-Patil Developers' strong Q2 results resulted in a surge in shares. Nalco's shares rose due to positive global trends. Mphasis reported a jump in net profit but a drop in revenue. Nestle India's shares dropped after a marginal decline in quarterly profit. Hero MotoCorp shares declined due to weak demand. Hind Rectifiers and Titagarh Rail saw positive gains in their share prices.

Jubilant FoodWorks stays off price hikes to protect its market share

Economic Times

Economic Times · 2d ago

Jubilant FoodWorks stays off price hikes to protect its market share

Jubilant FoodWorks, India's largest quick service operator running Domino's Pizza, has maintained stable pricing for the past 15 quarters to protect market share amid rising competition and demand slowdown. The company focuses on cost management, like renegotiating rents and local sourcing, avoiding price hikes despite inflation. While Domino's leads in the pizza market, competitors like KFC dominate in chicken. Jubilant also promotes value meals and new, affordable menu options to attract customers.

Zoomcar Slashes Losses by 25% in FY25, Posts First Contribution Profit

OutlookIndia

OutlookIndia · 1m ago

Zoomcar Slashes Losses by 25% in FY25, Posts First Contribution Profit

Zoomcar reduced its net loss by 25% to $25.62 million in FY25 and reported its first contribution profit of $4.25 million, despite a 7.9% drop in revenue to $9.1 million. The company achieved this through operational efficiencies, dynamic pricing, and cost reductions, including a 49% decrease in cost of revenue. A partnership with CARS24 was announced to enhance vehicle safety and transparency on its platform.

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