A court here has issued a summons to food delivery app Zomato in a civil complaint seeking a restraining order to prevent the firm from continuing its services, which allow users to buy “hot and authentic food” from “iconic restaurants” around the national capital. The court was hearing a case brought by a Gurugram resident […]
PepsiCo, a global beverage and food company, said on Friday that it expects “mid-single-digit” growth in the Indian market in 2023. According to the most recent financial report, PepsiCo’s global net sales will be USD 91.47 billion in 2023, representing a 5.9 per cent increase. PepsiCo stated that developing and emerging markets, including “China and […]
Sapphire Foods India, the operator of KFC and Pizza Hut restaurants, revealed its largest quarterly earnings drop since going public in 2021, hampered by local competition and inflation-weary consumers cutting back on fast food spending. The Yum Brands franchisee’s overall net profit plummeted roughly 69 per cent to 101.4 million rupees (USD 1.22 million) in the […]
Zomato declared a consolidated net profit of Rs 138 crore for the December quarter. The company reported a combined net loss of Rs 347 crore in the same quarter last year, according to a regulatory filing. Consolidated income from operations in the third quarter of the current fiscal year was Rs 3,288 crore, up from Rs […]
Parag Milk Foods (PMFL), a manufacturer and marketer of dairy-based branded products in India has reported a rise of 268.8 per cent year-on-year (YoY) in consolidated profit after tax (PAT) at Rs 34.16 crore in the third quarter ended December 2023, as against the consolidated PAT of Rs 9.26 crore in the same period of […]
Britannia Industries reported a 40.40 per cent drop in consolidated net profit to Rs 555.66 crore in the third quarter ended December 2023, compared to Rs 932.40 crore in the same period a year ago, according to a BSE filing. However, its revenue from operations increased 1.41 per cent at Rs 4,256.33 crore in Q3 FY24 […]
Pepsi India bottler Varun Beverages on Monday reported a nearly 77 per cent increase in its quarterly profit, as it saw double-digit volume growth across domestic and international markets even as higher costs of essentials weighed on consumers. Consolidated net profit increased to 1.32 billion rupees (USD 15.9 million) in the fourth quarter ended 31 […]
Westlife Foodworld, the operator of McDonald’s restaurants in west and south India, failed quarterly profit projections on Wednesday, citing sluggish demand. Consolidated profit after tax fell nearly 53 per cent to 172.4 million rupees (USD 2.08 million) in the three months ended 31 December, according to an exchange filing. Analysts, on average, had expected profit […]
Jubilant Foodworks, the operator of the fast-food chains Domino’s Pizza and Dunkin’, on Wednesday, reported a decline of 18.2 per cent in consolidated net profit to Rs 65.70 crore in the third quarter (Q2) ended December 2023 as against the net profit of Rs 80.36 crore in the same period of the previous fiscal, according […]
FSSAI Simplifies Food Safety Rules: BIS, AGMARK Certifications No Longer Mandatory
The government has approved several revisions to food safety and standard legislation, requiring only one certification from the food regulator FSSAI for food goods. The Food Safety and Standards Authority of India (FSSAI) would release a draft notification in this respect and solicit feedback from stakeholders before finalising the amendments. If these revisions are approved, […]