The operator of QSR Chain Burger King in India, Restaurant Brands Asia, on Monday, the company posted a reduced third-quarter loss, helped by robust holiday sales.
The company’s consolidated net loss narrowed to Rs 36.18 crore (USD 4.4 million) in the three months ended 31 December from Rs 50.42 crore a year earlier.
Nonetheless, it is the company’s seventeenth consecutive quarterly loss, exacerbated this time by a roughly 10 per cent increase in overall costs.
The firm, which operates quick service restaurants owned by Restaurant Brands International, claimed costs for goods such as chicken, cheese, tomatoes, and onions had risen 12.6 per cent.
However, revenue climbed by around 15 per cent during the quarter, aided by consumers going out during the Diwali festival in India and the Christmas holiday period in general.
Sales also increased in India, which accounts for around 74 per cent of overall sales, as certain vegetarian-centric festival seasons came in September this year rather than October.
During the October-December quarter, Restaurant Brands Asia’s same-store sales growth at Indian Burger King restaurants slowed to 2.6 per cent from 28 per cent in the year-ago quarter.
