Indian QSR Operators Devyani International and Jubilant Foodworks Face Profit Decline Amidst Rising Ingredient Costs and Weakened Consumer Sentiment
May 19, 2023
Indian QSR operators, Devyani International and Jubilant Foodworks, have reported a decline in net profit in the fourth quarter due to increased input costs. The prices of key ingredients like cheese and flour, used in pizzas and burgers, rose by 40% and 21%