Restaurant Brands Asia on Monday reported a steeper first-quarter loss, as Burger King's India operator incurred higher raw material expenses while also spending heavily on more stores.
A sign for Burger King is displayed outside one of the company's restaurants in Paris, France, February 9, 2022. REUTERS/Benoit Tessier/File Photoon Monday reported a steeper first-quarter loss, as Burger King's India operator incurred higher raw material expenses while also spending heavily on more stores.
The restaurant chain's consolidated net loss widened to 504.8 million rupees for the quarter ended June 30, from 475 million rupees a year ago, according to anTotal expenses increased over 21% to 6.72 billion rupees, with cost of materials consumed climbing 26% due to rising costs of ingredients including cheese and vegetables.
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