Devyani International Posts Narrower Loss on KFC Growth
Devyani International reported a narrower loss as KFC same-store sales growth hit a 14-quarter high. Revenue rose 18.5% despite continued weakness at Pizza Hut.
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DEVYANI INTERNATIONAL LTD narrowed its quarterly consolidated net loss to 100.4 million rupees ($1.05 million) as revenue rose 18.5% to 14.37 billion rupees. The result compares to a 147.4 million rupee loss a year ago. The recovery was driven by a 14-quarter high in KFC same-store sales growth of 4.9%, suggesting that aggressive in-store pricing and reduced online discounts are successfully capturing resilient dine-in traffic.
