KFC India operator suffers 57% quarter earnings loss

Same-store sales in the operator's Pizza Hut operations also dropped 4%.

KFC and Pizza Hut operator Sapphire Foods India reported a decline of 57% in the fourth quarter (Q4) earnings, citing higher expenses and stiff competition amidst consumers pinching pennies on discretionary spending, according to a company filing.

Sapphire Food’s profit before tax fell to $1.5m in the quarter ending 31 March from $3.48m compared to a year earlier.

Meanwhile, Pizza Hut restaurants operated by Sapphire suffered a dip of 4% in same-store sales in Q4 as it competes with other pizza brands in the market

Just recently, the operator started a campaign to boost marketing for the pizza rand, launching 10 new pizza flavours under Pizza Hut’s flag.