** Shares of India's Devyani International DEVY.NS fall 3.72% to 113.69 rupees

** Quick service restaurant operator's Q4 revenue rises 18.5% y/y, while consolidated loss narrows ~32% y/y to 100.4 million rupees ($1.04 million)

KFC RECOVERY OFFSET BY PIZZA HUT, MARGIN CONCERNS

** J.P.Morgan ("overweight"; TP: 127 rupees) says KFC posted its best same-store sales growth in 14 quarters, but Pizza Hut turnaround remains critical for sustained earnings recovery

** Jefferies ("buy"; TP: 155 rupees) says store expansion plans and Sapphire Foods merger support outlook, though weak macro environment remains a near-term risk

** Macquarie ("outperform"; TP: 130 rupees) says improving KFC performance and international business growth were partly offset by continued losses and operating deleverage at Pizza Hut

** BOB Capital Markets ("buy"; TP: 141 rupees) says Pizza Hut turnaround, Sapphire merger and technology-led strategy remain key medium-term catalysts despite pressure on profitability

($1 = 96.2225 Indian rupees)