Devyani Q2 Loss Narrows on KFC Sales
Devyani International reported a sharply narrower second-quarter loss as strong same-store sales growth at KFC outlets offset higher raw material costs. Revenue rose 10.4 percent while the company remains on track to meet its annual store expansion target.
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Devyani International Ltd reported a consolidated net loss of 2.4 million rupees ($25,301.78) on Monday morning, narrowing sharply from 218.9 million rupees a year earlier. The operator of KFC and Pizza Hut in India benefited from strong same-store sales growth that offset rising raw material costs. Shares rose as much as 5.8% following the results.
