Yum! Restaurants (India), the holding company for Pizza Hut and KFC in the Indian market, reported a net profit of Rs. 162.04 crore for the financial year ending March 31, 2024. This marks a turnaround from its ₹108.17 crore loss in FY23.
Revenue from operations grew by 6.6% to Rs. 689.93 crore, while total income increased by 13.4% to ₹832.05 crore, aided by gains from the sale of investments in Devyani International Ltd. The company reported other income of Rs. 142.11 crore for FY24, up from Rs. 86.46 crore in FY23.
Advertising and promotional expenses were reduced by 3.8% to Rs. 220.69 crore, whereas royalty and technical license fees to the parent company increased by 14% to Rs. 175.10 crore. Total expenses for the year fell by 22.16% to Rs. 671.33 crore.
During the year, Yum! Restaurants (India) divested its entire stake in Devyani International Ltd through a block deal, generating Rs. 871.09 crore. The stake was originally acquired for Rs. 230 crore in FY21 as part of a business transfer agreement.
