Yum! Restaurants India Bounces Back to Profit in FY24

Yum! Restaurants (India) achieved a profit of Rs 162.04 crore in FY24, bouncing back after a loss in FY23. The brand's revenue rose by 6.6% to Rs 689.93 crore, aided by income from the sale of investments. Advertising expenses fell, while royalty costs increased.

Yum! Restaurants (India), the owner of popular quick service restaurant brands Pizza Hut and KFC in India, announced a return to profitability in the fiscal year 2024. The company reported a net profit of Rs 162.04 crore, contrasting with a loss of Rs 108.17 crore the previous year, according to a recent RoC filing.

The company's total revenue from operations saw a 6.6% increase, reaching Rs 689.93 crore. Additionally, Yum! Restaurants' total income stood at Rs 832.05 crore, marking a 13.4% growth for the fiscal year ending March 31, 2024. This growth was largely driven by other income, including significant gains from selling its investments in Devyani International Ltd.

Despite a decrease in advertising promotional expenses to Rs 220.69 crore, the company experienced a 14% rise in royalty costs, now at Rs 175.10 crore. The financial year also witnessed Yum! Restaurants' strategic disposal of its stake in Devyani International, a move that not only generated large gains but also highlighted its ongoing business strategy to fortify financial health.

(With inputs from agencies.)