India's Restaurant Brands Asia surges 11% on Q4 core profit growth

Restaurant Brands Asia

18/05/2023 07:28

** Shares of Restaurant Brands Asia Ltd  RESR.NS  surge as
much as 11.47% to a five-month high of 119.50 rupees
    ** Uptick comes after the Burger King India operator reports
 35% Y/Y rise in consolidated core profit and a 29% rise in
revenue; core profit margin expands to 5.33% from 5.06%
    ** However, net loss widens to 733.68 mln rupees from 670.74
mln rupees
    ** India business revenue, which accounts for 71% of total
revenue, rose 36% in March quarter
    ** Trading volume is 13.9 mln shares as of 11:50 a.m. IST,
more than eight times the 30-day avg - Refinitiv data
    ** Of 12 analysts tracking RESR, eight maintain "buy", two
suggest "sell" and two recommend "hold"; median TP is 120 rupees
    ** The relative strength index of the stock is 77,
suggesting it may be overbought

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))