Burger King's India franchisee hits 8-mth low as Q3 loss doubles

Restaurant Brands Asia

09/02/2023 06:15

** Shares of Restaurant Brands Asia Ltd  RESR.NS  fall as
much as 6.95% to 99.10 rupees, lowest since June 1, 2022
    ** Stock sees sharpest intraday pct loss since Dec. 23, 2022
    ** The Burger King India franchisee reports Dec-qtr net loss
more than doubled  urn:newsml:reuters.com:*:nFWN34O1MZ
    ** Revenue from operations stood at 5.26 billion rupees, up
from 4.35 billion rupees a year ago
    ** More than 1 mln shares change hands by 11:20 a.m. IST,
1.8x the 30-day avg 
   ** RESR's relative strength index (RSI) falls below 30,
suggesting shares are oversold
    ** Stock down 21.05% in 2022
($1 = 82.6300 Indian rupees)
 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com;))