Inflation bites into KFC operator Devyani International’s Q2 margins
In the past one year, shares of Devyani International have risen by about 28%. Investors would do well to track how consumer demand plays out given elevated inflation
Devyani International Ltd, the largest franchisee partner for YUM! brand in India, saw the adverse impact of raging inflation on its profitability in the September quarter (Q2FY23). Gross margin fell to a multi-quarter low of 70.2% last quarter thanks to sustained rise in input prices. The company took judicious price corrections earlier this financial year to protect margins.
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