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Business & Stocks Economic Times Markets • Nov 02, 2026

Devyani International Narrows Q2 Loss Sharply on Strong KFC and Pizza Hut Same-Store Sales Growth

💡 Key Takeaways

•Devyani International recorded a sharp contraction in Q2 net losses driven by a 10.4% YoY rise in operating revenues to 15.19 billion rupees.
•KFC maintained positive same-store sales growth for the third consecutive quarter at 4.4%.
•Chairman Ravi Jaipuria highlighted ongoing pressures from food inflation and high interest rates affecting consumer spending.

NEW DELHI [NCRBuzz Wire] — **NEW DELHI [NCRBuzz Wire] —** **Devyani International, prominent operator of quick-service restaurant chains including pizza hut, kfc, and taco bell, has registered a substantial reduction in its net losses for the second quarter of the fiscal year.** The financial turnaround was primarily anchored by robust revenue expansion, demonstrating resilience in the domestic quick-service restaurant sector despite broader urban consumption pressures.

### Financial Performance Metrics

**Total operating revenues for the firm climbed by 10.4% year-on-year to reach 15.19 billion rupees during the quarter under review.** Operating expenses grew at a comparatively slower pace of 8.3%, enabling the company to narrow its bottom-line losses significantly.

|---|---|---|---|

### Macroeconomic Pressures and Leadership Commentary

**Chairman Ravi Jaipuria formally acknowledged the ongoing structural challenges posed by persistent food inflation and increasing interest rates.** These macroeconomic headwinds have constrained discretionary consumer spending across urban and semi-urban markets, forcing quick-service operators to balance menu pricing strategies carefully against input cost pressures.

### Market Response and Outlook

**Market analysts maintain a cautious yet observant stance on the quick-service restaurant industry as urban consumption patterns evolve.** Sustained positive same-store sales growth in flagship brands like KFC provides critical earnings visibility, though broader recovery hinges on moderating inflation metrics and monetary policy easing by the central bank.

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🏛️ Background Context

The Indian quick-service restaurant sector has faced compressed operating margins over recent fiscal cycles due to volatile raw material costs, supply chain pressures, and shifting urban discretionary spending behaviors under tight monetary policy.

💡 Citizen & Commuter Quick Explainer (FAQ)

Q1: What drove Devyani International's revenue growth in Q2?

Operating revenues climbed 10.4% YoY to 15.19 billion rupees, supported by network expansion and steady same-store sales in flagship brands.

Q2: How did KFC perform in the latest quarter?

KFC recorded a positive same-store sales growth of 4.4%, marking its third consecutive quarter of positive comparable sales.

Q3: What macroeconomic challenges did leadership cite?

Chairman Ravi Jaipuria pointed to ongoing headwinds from food inflation and elevated interest rates impacting consumer discretionary spending.

Verified Wires: Economic Times Markets Original Wire Dispatch ↗

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