Restaurant Brands Asia Revenue Jumps 20.12% to 844.85 Crore Rupees Despite Loss
Key Facts
Restaurant Brands Asia reported consolidated revenue from operations of 844.85 crore rupees for the second quarter of fiscal 2027 on October 29, 2026, up 20.12% year on year, after announcing results following the market close. The results cover the quarter ended September 30, 2026, while comparable revenue was 703.42 crore rupees in the second quarter of fiscal 2026. Meanwhile, consolidated net loss narrowed to 19.58 crore rupees from 58.6 crore rupees a year earlier. Reuters said net loss was 195.8 million rupees, compared with 586 million rupees in the corresponding period, figures equivalent to the reported values in crore. The results show revenue growth and an improvement in net loss, while the company remained loss-making on a consolidated basis.
On a standalone basis, the company posted a profit of 155.9 million rupees, turning profitable for the first time, Reuters reported. This figure differs from the consolidated result, which was a loss of 19.58 crore rupees, because it presents the company's performance on a standalone basis. The positive standalone result adds another dimension to performance alongside the continued loss on a consolidated basis. The available year-on-year comparison for consolidated loss shows it narrowing from 58.6 crore rupees to 19.58 crore rupees. The quarter's results therefore combined higher revenue and an improved consolidated loss with a profit on a standalone basis.
Group Chief Executive Rajeev Varman attributed the improved performance to same-store sales growth and expansion of the restaurant network, saying same-store sales at Burger King India rose 14% during the quarter. He said network growth contributed to higher revenue and improved profitability, linking the performance of existing outlets with the addition of restaurants. The total number of restaurants rose to 769 from 694 a year earlier, alongside operating revenue growth of about 20%, Reuters reported. The increase in locations provides operational context for revenue growth, while the same-store sales figure reflects the performance of the existing business in India. Varman said, "Same-store sales growth was 14%."
Revenue in the quarter was split between Burger King India, which contributed 83%, Burger King Indonesia at 15%, and Popeyes Indonesia at 2%. The breakdown reflects the greater weight of the Indian business in revenue, compared with a smaller share for the Indonesian operations. Commenting on Indonesia, Varman said Burger King's business there had seen a recovery as a result of strategic initiatives. According to his remarks, this recovery was one aspect of the business outside the Indian market during the period. India remained the largest contributor to revenue, based on the percentages reported by the company.
The company also announced the appointment of Sumit Zaveri as chief executive of its India business, with him continuing to report to Varman, the group chief executive. Varman said, "Sumit Zaveri will lead our India business." The appointment comes as management attributed revenue growth and improved profitability to network expansion and same-store sales performance. The reporting structure maintains Varman's responsibility at group level, while Zaveri leads the India business. India accounts for 83% of revenue, according to the quarter's breakdown.
The stock closed down 2.86% at 92.23 rupees in the October 29 session, before the results were announced after the market close, according to trading data cited by Upstox. The decline therefore relates to the stock's movement during the session before the results were published and does not represent a subsequent response to them. On sector expectations, Reuters said analysts had expected demand at quick-service restaurants to improve during the quarter. It said companies were relying on multiple strategies to drive growth, including value-for-money offers. The available information did not include a figure for analysts' expectations for the company's own results.
Varman identified sales growth, cost efficiency and restaurant network expansion among the company's priorities going forward, after noting a recovery in Burger King Indonesia's business driven by strategic initiatives. These priorities link higher sales, expense control and continued operational expansion. The network had reached 769 restaurants in the quarter, compared with 694 a year earlier. Same-store sales at Burger King India were also 14%, according to the group chief executive. His remarks did not specify a timeline or numerical targets for these priorities.