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Yum! Restaurants India FY24 results: Profit at Rs 162 cr, income up 13%

Yum! Restaurants (India), which owns QSR brands such as Pizza Hut and KFC in the Indian market, was back in the black in FY24, reporting a profit of Rs 162.04 crore while its revenue from operations was up 6.6 per cent to Rs 689.93 crore, the company said in an RoC filing. The total income of Yum! Restaurants (India) was up 13.4 per cent to Rs 832.05 crore for the financial year ended on March 31, 2024, helped by other income -- mainly gains from the sale of its investments in Devyani International Ltd. Yum! Restaurants (India) posted other income of Rs 142.11 crore for FY24 as against Rs 86.46 crore a year earlier, according to financial data accessed through business intelligence platform Tofler. It had reported a loss of Rs 108.17 crore a year earlier in FY23 and its revenue from operations was at Rs 647.34 crore. Yum! Restaurants (India) Pvt Ltd is the holding company of Pizza Hut India Marketing and KFC India Marketing. Its "advertising promotional expenses" were at Rs 220.69

KFC India operator Devyani's revenue jumps 49% on new store additions

Store count for Devyani, which runs KFC, Pizza Hut and Costa Coffee stores in India, rose to 1,557 restaurants in the country from 1,298 last year

From KFC to Pizza Hut & Burger King, US chains pull onions on E Coli risk

Burger King said Thursday that it gets some of its onions from a Colorado facility run by Taylor Farms, which supplied the McDonald's restaurants that have been impacted by the outbreak

Pizza Hut adapts to China's sluggish economy by opening cheaper stores

The first Pizza Hut Wow store opened in Guangzhou in May and there are now more than 100 around the country, with a target of 200 by the end of the year, Yum China said

Devyani Int's Q1 result: Profit rises to Rs 224 cr on back of advertising

Devyani International Ltd, the operator of Pizza Hut, KFC, and Costa Coffee stores, has reported a profit of Rs 224.30 crore for June quarter FY25 helped by marketing campaigns and promotional deals. The Quick Service Restaurant (QSR) operator had reported a loss of Rs 1.59 crore in April-June FY24, according to a regulatory filing by the Jaipuria family-promoted firm on Monday. Revenue from operations in the quarter was Rs 1,221.90 crore as against Rs 846.63 crore in the year-ago period. Its "consolidated EBITDA for the quarter closed at Rs 220 crore, with margin at 18.3 per cent - an improvement of 1.7 per cent compared to the previous quarter," said an earning statement from the company. Total expenses in June quarter increased 42.9 per cent to Rs 1,201.28 crore. During the quarter, Devyani International Ltd (DIL) added 54 stores with an aim to reach consumers in its under-penetrated markets, it said. "With this addition, DlL's total store count moves to 1,836 stores as of Jun

As war in Gaza surges, 'Iran-backed' attacks on US brands rattle Baghdad

A dozen masked men jump out of two SUVs and a white pickup and storm a KFC in Baghdad, smashing everything in sight before fleeing the scene. A few days earlier, similar violence played out at Lee's Famous Recipe Chicken and Chili House all American brands popular in the Iraqi capital. Though no one was seriously hurt, the recent attacks apparently orchestrated by supporters of Iran-backed, anti-American militias in Iraq reflect surging anger against the United States, Israel's top ally, over the war in Gaza. Iraqi governments have for years walked a delicate line between Washington and Tehran, but the eight-month war in Gaza has critically upped the stakes. The conflict erupted after the militant Hamas group stormed into southern Israel on October 7, killing some 1,200 people mostly civilians and taking 250 hostage. Israel's subsequent offensives in Gaza have killed more than 36,000 Palestinians in the territory, according to the Health Ministry there. Days after the war brok

Anti-Israel boycotts hurting McDonald's, KFC in West Asia and Europe

McDonald's became a target of boycotts after photos and videos on social media showed its franchised stores in Israel giving meals to the nation's soldiers following the October 7 attack

Devyani International Q4: Net loss of Rs 48.95 cr, revenue at Rs 1,047 cr

Quick service restaurant operator Devyani International Ltd on Tuesday reported a consolidated net loss of Rs 48.95 crore in the fourth quarter ended March 31, 2024, impacted by forex translation loss due to the devaluation of Nigerian currency. The company had posted a consolidated net profit of Rs 59.88 crore in the fourth quarter of the previous fiscal, Devyani International said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 1,047.08 crore as against Rs 754.98 crore in the corresponding period a year ago, it added. Total expenses were higher at Rs 1,057.32 crore as compared to Rs 724.77 crore in the year-ago quarter, it added. During the quarter ended March 31, 2024, and the year ended March 31, 2024, due to significant devaluation of the Nigerian currency, the Nigerian subsidiary of the group has recognised Rs 42.37 crore and Rs 89.7 crore devaluation impact on account of translation loss of USD denominated liabilities

McDonald's set for weak sales growth amid muted fast-food traffic in US

'We expect traffic to continue to be negative, believe the average check will remain under pressure from the heavy discounting to recover lower-income consumer traffic,' BTIG analyst Peter Saleh said

Weak demand environment to delay recovery in quick-service restaurants

While competition is intense, growth has seen non-vegetarian options starting to outpace vegetarian. KFC, for example, has an 85 per cent contribution from non-vegetarian

Sapphire Foods at new high; soars 18% in 4 days as large funds raise stake

On March 7, 2024, HDFC Mutual Fund acquired 1.45 million equity shares, representing 2.28 per cent of Sapphire Foods, via open market

Third Wave Coffee CEO Sushant Goel steps down; Rajat Luthra to replace him

Since its inception in 2016, Goel, along with co-founders Ayush Bathwal and Anirudh Sharma, has been successfully able to scale the company to over 100 outlets across India

Vegetarian KFC to open in Ayodhya, government ready to offer space

A full "vegetarian KFC" to open in Ayodhya as the government is ready to offer space. Tourism has surged in the state after the inauguration of the Ram Temple

KFC welcome to operate near Ayodhya's Ram temple with vegetarian menu

Ayodhya does not permit serving liquor and meat within its defined 'Panch Kosi Marg.' This area is a 15 km pilgrimage circuit around the temple town

KFC India operator Devyani posts slow Q3 revenue growth at 7%, costs spike

"Consumer sentiment remains subdued, despite Q3 traditionally being a strong and festive quarter," Chairman Ravi Kant Jaipuria said in a statement. This, coupled with total expenses jumping nearly 16%

Brokerages bullish on Sapphire Foods India amid muted outlook for QSR

While the company has a franchise for both KFC and Pizza Hut (PH), the street believes that the KFC business will do better than PH business in the near term

US companies are picky about investing in China except fast-food chains

American fast-food chains have decided a market of 1.4 billion people is simply too delicious to pass up. KFC China's parent company opened its 10,000th restaurant in China last month

US companies picky about investing in China, but keen on burgers, lattes

There's been no shortage of tough news for China's economy as some of the world's biggest brands consider or take action to shift manufacturing to friendlier shores at a time of unease about security controls, protectionism and wobbly relations between Beijing and Washington. Count Adidas, Apple and Samsung among those looking elsewhere. But as a tumultuous 2023 for the Chinese economy comes to a close, there has been at least one bright spot for Beijing when it comes to foreign investment: American fast-food chains have decided a market of 1.4 billion people is simply too delicious to pass up. KFC China's parent company opened its 10,000th restaurant in China last month and aims to have stores within reach of half of China's population by 2026. McDonald's is planning to open 3,500 new stores in China over the next four years. And Starbucks invested $220 million in a manufacturing and distribution facility in eastern China, its biggest project outside the U.S. This is surely not wh

Thai acquisition offers additional growth engine for Devyani International

Indian QSR chain expands international presence by buying firm that runs KFC outlets in Thailand

India KFC operator Devyani International enters Thailand with $129 mn deal

India's Devyani International said it will begin operating KFC outlets in Thailand after it acquired Restaurants Development Co in deal a worth $128.9 million, expected to be completed by March 2024.