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QSR sector sees no material recovery in 3QFY24, says Antique Stock Broking; prefers Sapphire Foods, Devyani Intl
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Also Read: Zomato rings in record New Year's Eve, delivering almost as much as combined orders of NYE 15, 16, 17, 18, 19, 20 “QSR companies have not witnessed any material recovery in 3QFY24 compared to 2QFY24. There were expectations of strong sequential recovery in 3Q due to the weak base on account of a longer Shravan month (veg eating month), delayed festivals, and inflation impacting discretionary spending," the brokerage said.
Customers' down trading and the increased level of competition have continued to have an impact on the pizza segment during the quarter. Furthermore, demand across QSR companies remained soft compared to the previous year, even during the highest revenue-generating week of December last week.
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