Q4 net profit of Sapphire Foods India, operating Pizza Hut and KFC chains, fell 98% due to reduced customer spending amid inflation.
Sapphire Foods India, the operator of Pizza Hut and KFC chains, saw its Q4 net profit fall 98% to 23.9 million INR ($286k) due to reduced customer spending amid inflation. This marks the fourth consecutive quarterly profit fall since listing, and the company's shares fell by 3.3% following the results. India's quick-service restaurants have faced challenges in attracting customers during the fiscal year.
May 10, 2024
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