Pizza Hut India operator Sapphire misses Q4 profit view on slow demand

Sapphire Foods India

10/05/2024 09:24

BENGALURU, May 10 (Reuters) - KFC, Pizza Hut operator
Sapphire Foods India  SAPI.NS  posted a bigger-than-expected
fall in fourth-quarter profit on Friday, its fourth straight
quarterly profit fall, as inflation-weary customers continued to
cut back on dining out and ordering in.
    The Yum Brands  YUM.N  franchisee's consolidated net profit
fell 98% to 23.9 million Indian rupees ($286,271.4) for the
quarter ended Dec. 31, from 1.36 billion rupees a year ago.
    Analysts, on average, had expected a profit of 44.5 million
rupees, according to LSEG data.
        
  

($1 = 83.4872 Indian rupees)

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