Sapphire Foods India, a domestic operator of Pizza Hut restaurants, on Thursday reported a bigger-than-expected fall in quarterly profit on sluggish demand for pizzas and said it is “cautious” about opening more outlets. The Yum Brands franchisee’s net profit fell 43% to 153.4 million rupees ($1.84 million) for the quarter ended September 30. Analysts, on average, were expecting 181.9 million rupees, according to LSEG data. Pizza Hut India contributes to roughly a quarter of Sapphire’s overall revenue.
Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News