Sapphire Foods, the Indian operator of the KFC and Pizza Hut chains, reported a consolidated loss for the fourth quarter.
The franchisee for US-based Yum Brands faced a sharp downturn compared to its performance in the same period last year, News.Az reports, citing Reuters.
For the March quarter, the company reported a consolidated net loss of 126.1 million rupees ($1.33 million). This is a significant shift from the previous year, when Sapphire Foods posted a profit of 17.9 million rupees. The results highlight a challenging end to the fiscal year for one of India's largest restaurant operators.
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