RBA

Feb 3 (Reuters) - Burger King India operator reported a narrower third-quarter loss on Tuesday, as its discounted menu items helped bring in diners.

Restaurant Brands Asia RESR.NS reported a net loss of 435.4 million rupees ($4.8 million) for the three months ended December 31, compared to a loss of 504 million rupees a year earlier.

Demand at consumer-facing businesses in India has been gradually improving as inflation is controlled and the government's consumption tax cuts leave shoppers with more money to spend.

But Western fast-food brands face stiff competition from local diners and cloud kitchens, prompting them to roll out deeper discounts, including Burger King's two burgers for 79 rupees and meals priced at 99 rupees.

As customers become more selective, Restaurant Brands Asia aims to keep them coming back by keeping prices reasonable, Rajeev Varman, group CEO, said in a statement.

The efforts helped Burger King post 4.5% growth in same-store sales, which refer to sales from stores open for at least 12 months, quicker than the previous quarter's 2.8% growth.

Overall revenue from operations for Restaurant Brands Asia, which also operates restaurants in Indonesia, grew nearly 12% to 7.15 billion rupees.

Last month, the company said real estate-to-restaurants group Inspira Global will invest up to 34.16 billion rupees for a controlling stake in the firm, as private equity firm Everstone sells its stake.

($1 = 90.2350 Indian rupees)

(Reporting by Komal Salecha in Bengaluru and Praveen Paramasivam in Chennai; Editing by Harikrishnan Nair and Mrigank Dhaniwala)

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Jan 21 (Reuters) -

• MASSACHUSETTS INSTITUTE OF TECHNOLOGY SOLD 11.7 MILLION SHARES IN RESTAURANT BRANDS ASIA VIA BULK DEAL - NSE DATA

• 238 PLAN ASSOCIATES LLC SOLD 3.4 MILLION SHARES IN RESTAURANT BRANDS ASIA VIA BULK DEAL - NSE DATA

Further company coverage: RESR.NS

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Jan 20 (Reuters) - Ajanta Pharma Ltd AJPH.NS:

• AJANTA PHARMA LTD - HAS NOT CONSIDERED ACQUIRING STAKE IN RESTAURANT BRANDS ASIA

• AJANTA PHARMA LTD - REFERENCE TO AJANTA PHARMA IN NEWS ARTICLE IS INCORRECT

Source text: ID:nBSE2p127p

Further company coverage: AJPH.NS

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By Aditya Kalra, Yantoultra Ngui and Vibhuti Sharma

NEW DELHI/SINGAPORE, Jan 19 (Reuters) - Private equity firm Everstone will sell its entire 11.26% stake in Burger King's India and Indonesia franchisee Restaurant Brands Asia RESR.NS, as part of a deal to be announced on Tuesday, two people with direct knowledge of the matter said.

Everstone Capital's stake, through its investment vehicle QSR Asia Pte Ltd, is valued at $57 million currently, according to Refinitiv data. Restaurant Brands Asia has a market capitalisation of $437 million in Mumbai.

Under the deal, Restaurant Brands Asia will get a new strategic investor, said the two sources, who declined to be named as the matter is confidential.

Everstone and Restaurant Brands Asia did not respond to Reuters requests for comment.

The family office of the founders of India's Ajanta Pharma, which also runs other restaurant businesses, is set to be the strategic investor in the deal, and could inject up to 8 billion Indian rupees ($88 million) in the company, according to one of the sources.

Representatives of the family office did not respond to a request for comment.

It was not immediately clear what stake Ajanta would take in the company, but the source added it was considering taking up a majority stake in due course as other shareholders sell out.

Restaurant Brands Asia told Indian stock exchanges last week that it planned to hold a board meeting on Tuesday to "consider and evaluate raising of funds". It did not elaborate.

(Reporting by Aditya Kalra in New Delhi and Yantoultra Ngui in Singapore; Editing by Emelia Sithole-Matarise)

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Jan 15 (Reuters) - Restaurant Brands Asia Ltd RESR.NS:

• RESTAURANT BRANDS ASIA LTD - BOARD TO CONSIDER FUND RAISING THROUGH SECURITIES ISSUANCE

Source text: ID:nBSE455Kx7

Further company coverage: RESR.NS

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Oct 30 (Reuters) - Restaurant Brands Asia Ltd RESR.NS:

• Q2 CONSOL NET LOSS 586 MILLION RUPEES

• Q2 CONSOL REVENUE FROM OPERATIONS 7.03 BILLION RUPEES

Source text: [ID:]

Further company coverage: RESR.NS

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** Shares of Restaurant Brands Asia RESR.NS rise as much as 4.2% to 84.8 rupees
** Indian Burger King operator reported a narrower Q1 loss of 419.4 mln rupees ($4.8 mln) as its discounted menu items continued to draw in budget-conscious diners
** Centrum Broking believes RESR showcased strong performance despite subdued consumer spends and rising competition, and that further cost-reduction initiatives along with recovery in dine-in help to boost the business
** Stock on track to snap 2 days of losses

** Analysts' mean rating on stock is "buy"; median PT is 92.5 rupees - data compiled by LSEG
** RESR last up 3.8%, cutting YTD losses to 4.1%

($1 = 87.3550 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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July 31 (Reuters) - Indian Burger King operator Restaurant Brands Asia RESR.NS reported a narrower first-quarter loss on Thursday.

The company reported a net loss of 419.4 million rupees ($4.79 million) for the three months ended June 30, compared to a 493.6 million rupee loss a year earlier.

($1 = 87.5800 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru; Editing by Harikrishnan Nair)

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May 19 (Reuters) - Restaurant Brands Asia RESR.NS, the India franchisee of Burger King, reported a narrower fourth-quarter loss on Monday, as its affordable menu appealed to cost-conscious customers.

The company reported a net loss of 562.8 million rupees ($6.6 million) for the three months ended March 31, compared with a loss of 852.60 million rupees a year earlier.

Indian operators of U.S. chains such as Pizza Hut, KFC, McDonald's MCD.N and Burger King QSR.TO face a double blow, as they grapple not only with stiff competition from local rivals but also shrinking consumer spending due to high living costs and slow wage growth.

To counter this, they have relied on cheaper menu options to draw in diners.

In the last quarter, Restaurant Brands Asia introduced deals such as a bundle of two vegetarian burgers at 79 rupees and two chicken burgers at 99 rupees.

Such efforts helped its overall revenue climb nearly 6% to 6.33 billion rupees. Same-store sales at Burger King restaurants across India increased 5.1%, led by a growth in dine-in traffic.

Cheaper menu items also helped McDonald's franchisee Westlife Foodworld WEST.NS double its profit last quarter, although KFC and Pizza Hut franchisee Sapphire Food India SAPI.NS flagged a longer road to recovery, pressured by competition from delivery-focused Domino's, operated by Jubilant FoodWorks JUBI.NS.

Restaurant Brands Asia, however, has slowed its new store openings. It added just three new stores last quarter, out of a total of 58 for the April-March fiscal year.

It continues to focus on keeping diners through such efforts as last month's limited-time "Korean Spicy Fest" menu, which included burgers, chicken wings and fries, to cash in on the buzz around K-culture.

($1 = 85.3820 Indian rupees)

(Reporting by Shivani Tanna in Bengaluru; Editing by Savio D'Souza)

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By Shivani Tanna and Praveen Paramasivam

May 5 (Reuters) - India's Jubilant FoodWorks' JUBI.NS strong sales growth for the March quarter is set to outpace rivals whose franchisees are expected to report muted growth despite value-focused promotions, several analysts said.

Operators of U.S. chains KFC YUM.N, McDonald's MCD.N and Burger King QSR.TO are likely to report a decline to mid-single-digit growth in same-store sales, as inflation-hit consumers cut back and local competition intensifies, according to six brokerages.

Jubilant, however, has already flagged a 12.1% increase in like-for-like sales in India in its quarterly update, which analysts say has benefited from its focus on online sales, discounts on third-party platforms, and a waiver of delivery fees on app orders.

Other franchisees have not issued sales updates. Sapphire kicks off earnings for the sector on Wednesday.

"Competitive intensity is growing in fried chicken and burger and the larger existing players like KFC and McDonald's don't have anything different to offer versus rivals," said Karan Taurani, an analyst at Elara Securities.

"Jubilant is performing the best of the lot," Taurani said, adding that its investments into 20-minute in-house delivery and app-led orders are helping reduce its reliance on third-party platforms, which rivals are heavily dependent on.

India's fast-food sector is cooling as inflation-hit consumers cut back, with franchisees relying on discounts to stay competitive in a crowded market.

Unlike Jubilant, which has pushed delivery and app-based offers, KFC and McDonald's franchisees rely more on dine-in traffic and face growing pressure from local cafes and restaurants, analysts said.

Jubilant reported a 34% jump in consolidated revenue to 21.07 billion rupees ($250.05 million) for the March quarter.

While Jubilant's digital strategy has delivered steady outperformance through the year, analysts expect its profit margins — like those of other operators — to remain under pressure in the March quarter, partly due to rising raw material and marketing costs.

Three brokerages expect Jubilant's core earnings margin — a metric the restaurant operator aims to boost over the next few quarters by tightening its costs — to be unchanged from a year earlier.

However, some analysts see fried chicken as a key long-term growth category, despite the challenge of sameness.

"If you see from a longer-term perspective, the next growth driver is the overall fried chicken category in India, but there would be some pressure for one or two quarters," said Preeyam Tolia of Axis Securities.

($1 = 84.2630 Indian rupees)

(Reporting by Shivani Tanna and Bharath Rajeswaran in Bengaluru and Praveen Paramasivam in Chennai; Editing by Nivedita Bhattacharjee)

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March 26 (Reuters) - Restaurant Brands Asia Ltd RESR.NS:

• RESTAURANT BRANDS ASIA LTD - APPROVING CLOSURE OF THE QIP ISSUE

• RESTAURANT BRANDS ASIA LTD - APPROVING ISSUE PRICE OF 60 RUPEES PER SHARE FOR QIP

Source text: [ID:]

Further company coverage: RESR.NS

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March 24 (Reuters) - Restaurant Brands Asia Ltd RESR.NS:

• ANNOUNCES OPENING OF QUALIFIED INSTITUTIONS PLACEMENT

• FLOOR PRICE FOR QIP AT 62.32 RUPEES PER SHARE

Source text: ID:nBSE37nGQ9

Further company coverage: RESR.NS

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** Indian restaurant operator stocks jump between 3% and 10% after slew of demand-boosting measures in union budget

** Zomato ZOMT.NS and Swiggy SWIG.NS soar 6.5% and 7%, respectively

** Both were hit hard by cooling demand over last two months

** Among restaurant operators, Pizza Hut and KFC India franchisee Sapphire Foods SAPI.NS gains the most; Burger King's Indian operator Restaurant Brands Asia's RESR.NS up 3%, rising the least

** Domino's franchisee Jubilant Foodworks JUBI.NS gains 5%, Pizza Hut's other Indian operator Devyani Internatinal adds ~7%; McDonald's franchisee Westlife Foodworld WEST.NS advances 8.8%

** Finance Minister Nirmala Sitharaman says those earning up to 1.28 mln rupees ($14,791.53)/year won't have to pay any taxes

($1 = 86.5360 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru)

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Jan 29 (Reuters) - Restaurant Brands Asia RESR.NS, the India franchisee of Burger King, reported a wider third-quarter loss on Wednesday, weighed by high costs and inflation-hit customers cutting back on dining out.

The company reported a net loss of 504 million rupees ($5.82 million) for the three months ended Dec. 31, from a loss of 361.8 million rupees a year earlier.

Same-store sales at Indian Burger King restaurants slipped 0.5%, with the restaurant operator blaming "flat demand."

Global fast-food chains, including Burger King and McDonald's, have been doubling down on cheaper options over the last few quarters to attract India's price-sensitive customers amid high inflation.

Burger King offered some of the cheapest deals in the industry in the country, including a bundle of two vegetarian burgers at 79 rupees and of two chicken burgers at 99 rupees.

This, along with opening more outlets, propped up the company's revenue by 5.8% to 6.39 billion rupees.

Its total store count in India stood at 510, up 69 from last year and 46 from the previous quarter.

However, the company was also affected by high prices of ingredients, which led to an 8.5% increase in total expenses to 7.03 billion rupees.

Cafe chain Tata Starbucks and pizza group Papa John's International PZZA.O, meanwhile, have said they are rethinking their India plans amid subdued consumer sentiment.

Earlier in the day, Restaurant Brands Asia's rival Westlife Foodworld WEST.NS, the operator of McDonald's MCD.N in India, reported a 59% drop in quarterly profit.

Restaurant Brands International QSR.TO, which has Burger King restaurants in more than 100 countries, will report quarterly results on Feb. 12, according to its website.

($1 = 86.5340 Indian rupees)

(Reporting by Praveen Paramasivam in Chennai and Hritam Mukherjee in Bengaluru; Editing by Varun H K)

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Dec 20 (Reuters) - Restaurant Brands Asia Ltd RESR.NS:

• TO RAISE FUNDS UPTO 5 BILLION RUPEES

• TO RAISE FUNDS VIA QIP

Further company coverage: RESR.NS

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Dec 17 (Reuters) - Restaurant Brands Asia Ltd RESR.NS:

• RESTAURANT BRANDS ASIA LTD - TO CONSIDER PROPOSAL FOR FUND RAISING

Source text: ID:nBSEb9Nljw

Further company coverage: RESR.NS

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** Shares of India's McDonalds's operator Westlife Foodworld WEST.NS rise as much as 5.2% to 837.4 rupees, its highest since Sept. 27

** Goldman Sachs reiterates street high PT of 1,045 rupees, maintains "buy" rating

** Says positive impact of co's menu interventions expected to drive growth in Q3

** Co says confident of delivering positive same-store sales growth in Q3, will be better than peers, during interaction with GS

** Guest count to see decent growth in Q3, aided by soft base in year-ago quarter- GS

** More than 252,000 shares change hands, 2.2x its 30-day avg

** Rivals Domino's operator Jubilant Foodworks JUBI.NS rated "hold", KFC franchisees Devyani International DEVY.NS and Sapphire Foods SAPI.NS rated "buy" and Burger King operator Restaurant Brands Asia RESR.NS also at "buy"

(Reporting by Ashna Teresa Britto in Bengaluru)

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Nov 29 (Reuters) - Restaurant Brands Asia Ltd RESR.NS:

• RESTAURANT BRANDS ASIA - SAMEER PATEL RESIGNS AS CFO

Further company coverage: RESR.NS

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Adds background, revenue in paragraphs 4-7

Nov 11 (Reuters) - Jubilant FoodWorks JUBI.NS, which operates the Domino's Pizza DPZ.N brand in India, posted a smaller-than-expected fall in second-quarter profit on Monday, as cheaper menu items attracted budget-conscious customers.

Consolidated net profit fell to 640.5 million rupees ($7.59 million) for the quarter ended Sept. 30 from 972 million rupees a year earlier.

Analysts had estimated 635.2 million rupees, according to data compiled by LSEG.

Persistently high inflation has prompted consumers in the world's most populous country to pare back their dine-out spending, forcing fast-food chains to roll out cheaper menu items such as Domino's' four-course meal for 99 rupees ($1.2).

This, as well as its move to open more stores, paid off as Jubilant's revenue from operations rose nearly 43% to 19.55 billion rupees for the September quarter.

The results come in contrast to Jubilant's peers' numbers.

Sapphire Foods India SAPI.NS, which operates Pizza Hut and KFC, posted a surprise loss, while Burger King operator Restaurant Brands Asia RESR.NS booked a bigger loss. Profit at Westlife Foodworld WEST.NS, which runs McDonald's, slid.

($1 = 84.3550 Indian rupees)

(Reporting by Praveen Paramasivam and Ashna Teresa Britto; Editing by Janane Venkatraman)

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Oct 28 (Reuters) - Restaurant Brands Asia Ltd RESR.NS:

• Q2 CONSOL NET LOSS 601.7 MILLION RUPEES

• Q2 CONSOL REVENUE FROM OPERATIONS 6.32 BILLION RUPEES

Source text: ID:nNSE1SW7jp

Further company coverage: RESR.NS

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Oct 11 (Reuters) - Restaurant Brands Asia Ltd RESR.NS:

• APPOINTS TARA SUBRAMANIAM AS CHAIRPERSON

Source text for Eikon: ID:nBSE8YsRpm

Further company coverage: RESR.NS

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** Shares of Westlife Foodworld WEST.NS rise as much as 9.2% to 957 rupees, highest since Oct. 6

** Goldman Sachs upgraded stock to 'buy' with a street high PT of 1,075 rupees, as per a Moneycontrol report

** Goldman Sachs expects recovery potential from new product launches like the McCrispy platform, report adds

** More than 3.8 mln shares change hands, 30x its 30-day avg

** Twenty analysts covering the stock on avg have a 'hold' rating; median PT is 870.5 rupees - LSEG data

** Stock up ~14% so far this month vs a ~7% rise in Domino's restaurant operator Jubilant Foodworks JUBI.NS and a 3% rise in Burger King India franchisee Restaurant Brands Asia RESR.NS

(Reporting by Ashna Teresa Britto in Bengaluru)

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Sept 26 (Reuters) - Restaurant Brands Asia Ltd RESR.NS:

• ENTERED INTO LOAN AGREEMENT WITH UNIT PT SARI BURGER INDONESIA

• DEAL TO GRANT LOAN FOR 248.7 MILLION RUPEES

Source text for Eikon: ID:nNSE1V8dnt

Further company coverage: RESR.NS

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** Shares of Jubilant FoodWorks JUBI.NS up 8.3% to 648.6 rupees, their highest since Feb. 2022

** The Domino's India franchisee reported near two-fold jump in Q1 profit on Friday

** Stock eyes busiest trading session since November 2022, volumes 6x the 30-day avg

** Analysts' avg rating on stock is "Hold", in line with rating on peer Westlife Foodworld WEST.NS while Restaurant Brands Asia RESR.NS, Sapphire Foods SAPI.NS are rated "Buy", per LSEG data

** Median PT on JUBI is 567 rupees - a 5.3% discount on last close

** Stock up 15% YTD vs 13% gains in SAPI, 4% fall in RESR and ~3% loss in WEST

(Reporting by Manvi Pant in Bengaluru)

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BENGALURU, July 29 (Reuters) - Restaurant Brands Asia RESR.NS, which operates Burger King and Popeyes chains in India and Indonesia, reported a narrower first-quarter loss on Monday as offers and discounts brought more customers to its outlets.

The company's consolidated net loss narrowed to 493.6 million rupees ($5.90 million) in the three months ended June 30 from a loss of 504.8 million rupees a year earlier.

However, this is the company's fifteenth consecutive quarterly loss.

With growing competition in the quick service restaurant industry, Burger King India introduced "Tasty Meals" starting at 99 rupees to boost dine-in traffic.

The company, which runs quick service chains owned by Restaurant Brands International QSR.TO, said prices of ingredients rose 5%.

India's quick-service restaurant (QSR) brands provided discounts and budget-friendly meals to draw in customers during a quarter that featured the T20 Cricket World Cup and a school holiday period.

Revenue increased about 6% during the quarter, helped by higher footfall due to offers like the "Tasty Meals".

Rival fast food chain McDonald's India franchisee Westlife Foodworld WEST.NS reported a plunge in first-quarter profit amid frail demand and higher expenses.

Other rivals such as KFC-operator Devyani International DEVY.NS, Pizza Hut-operator Sapphire Foods SAPI.NS, and Domino's India-franchisee Jubilant FoodWorks JUBI.NS are yet to report results.

Shares of Restaurant Brands Asia closed 1.4% higher ahead of quarterly results.

($1 = 83.6970 Indian rupees)

(Reporting by Ashna Teresa Britto and Dimpal Gulwani in Bengaluru;Editing by Varun H K))

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** Shares of Westlife Foodworld Ltd WEST.NS fall 2.6% to 835.35 rupees

** WEST reports 89% drop in Q1 profit, hurt by higher expenses and mostly unchanged rev

** Frail demand leads to fourth-straight quarterly profit drop for West and South India McDonald's MCD.N restaurants operator

** WEST and Domino's restaurant operator Jubilant Foodworks JUBI.NS rated "hold" on avg vs "buy" for Burger King India franchisee Restaurant Brands Asia RESR.NS - LSEG data

** Stock trims YTD gains to 3.4% but still leads pack

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

** Shares of Burger King's India operator, Restaurant Brands Asia Ltd RESR.NS, rise as much as 4.6% to 113.5 rupees

** Around 4.6 mln shares (around 0.92% stake) bought by HDFC Mutual Fund in a bulk deal on July 4 - exchange data

** Shares bought at 110.46 rupees per share, 1.8% more than last close price

** Stock on track to gain for 3rd straight day

** More than 13 mln shares traded as of 12:43 p.m. IST, 4.6x their 30-day avg

** Mean rating of 11 brokerages rating the stock is "buy"; their median PT is 125 rupees - LSEG data

** RESR gained 13.9% so far this week, adding to YTD gains of ~1.2%

(Reporting by Meenakshi Maidas in Bengaluru)

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May 16 (Reuters) - Restaurant Brands Asia Ltd RESR.NS:

• SEES 700 RESTAURANTS COUNT IN INDIA BY FY27

• SEES ABOUT 69% GROSS PROFIT IN INDIA BY FY27

• IN INDONESIA, SEES CASH BREAKEVEN IN FY25

Further company coverage: RESR.NS

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** Shares of Westlife Foodworld WEST.NS, the McDonald's MCD.N India operator, were down 4.6% at 764 rupees

** India's Maharashtra state to inspect restaurant operators to check if they use cheese alternatives in products while promoting them as real cheese after McDonald's crackdown, Reuters reports

** Shares of Domino's DPZ.N operator Jubilant Foodworks JUBI.NS down ~1% and KFC operator Devyani International DEVY.NS down ~4%

** DEVY was already down on the day on a block deal

** Sapphire Foods SAPI.NS and Restaurant Brands Asia, RESR.NS operators of Pizza Hut and Burger King's, respectively, rose

** WEST set for worst day since Oct. 27, the day after it reported a surprise Q2 profit drop

** All restaurant operators rated "buy" on avg, except for JUBI, which is rated "hold" - LSEG data

(Reporting by Varun Vyas in Bengaluru)

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** Shares of Restaurant Brands Asia RESR.NS up 3.8% after the Indian operator of Burger King and Popeyes chains reports narrower Q3 loss

** Prabhudas Lilladher, Antique Stock Broking raise PT on co, with Prabhudas' new PT of 151 rupees being a Street high - LSEG

** Prabhudas sees positive outlook in India ops; on improved store traffic, strong growth in smaller towns

** Antique expects strong performance from co, backed by margin expansion on menu innovation, expansion of chains and improvement in Indonesia business

** Avg rating of 10 analysts, including Prabhudas and Antique, is an equivalent of 'buy' - LSEG

** The median PT is now 130 rupees, up from 126 rupees as of Dec. 30

(Reporting by Manvi Pant in Bengaluru)

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