Pizza Hut India operator misses Q3 profit estimates on tepid demand

Sapphire Foods India

09/02/2024 07:50

BENGALURU, Feb 9 (Reuters) - Sapphire Foods India
 SAPI.NS , the operator of KFC and Pizza Hut restaurants,
reported a bigger-than-expected fall in quarterly profit on
Friday, hurt by domestic competition and as inflation-weary
consumers cut back spending on fast food.
    The Yum Brands  YUM.N  franchisee's consolidated net profit
fell nearly 69% to 101.4 million rupees ($1.22 million) for the
quarter ended Dec. 31, marking its third consecutive fall in
profit.
    Analysts, on average, had expected a profit of 239.6 million
rupees, according to LSEG data.


($1 = 82.9700 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru; Editing by
Sonia Cheema)
 ((AshnaTeresa.Britto@thomsonreuters.com;))