KFC India Operator Devyani Reports Lower Profit as Ad Spending Rises
Devyani International, which operates Pizza Hut and KFC restaurants in India, reported a nearly 88% slump in first-quarter profit on Wednesday, as it ramped up advertising to whip up demand that has remained sluggish for months.
The Yum Brands franchisee reported a net profit of 36.9 million rupees ($420,920.55) for the quarter ended June 30, compared with 301.06 million rupees a year earlier.
Popular fast food chains in India have been struggling to grow the average daily spending as urban customers tighten their...
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