KFC India Operator Sapphire Swings to Quarterly Profit

KFC India Operator Sapphire Swings to Quarterly Profit

KFC India operator Sapphire Foods India has reported a quarterly profit of 140.4 million rupees, driven by discounts and increased demand. The company's shares rose 2% in afternoon trading. Sapphire, a franchisee for U.S.-based Yum Brands, attributed the profit to the success of its fast-food restaurants in luring more consumers with discounts. The company's consolidated net profit for the April-June quarter was 140.4 million rupees, compared to a loss of 12.4 million rupees in the same period last year.