MAM
IAA appoints Frank Cutitta as CEO
NEW YORK: The International Advertising Association (IAA), the only global partnership association of advertisers, agencies, the media and related services, has announced the appointment of Frank Cutitta as its chief executive officer.
Cutitta will be responsible for day-to-day management aspects of IAA and will report directly to the association’s world president and executive committee.
In detail, his responsibilities will include aspects of membership retention and development, professional development, freedom of commercial speech initiatives, university accreditation programmes, awards programmes, and alliances.
Before this, Cutitta served as corporate senior vice president at International Data Group (IDG) where he was responsible for building global programmes and alliances across IDG’s 300 publications, 51 research offices and 168 expo and conference organizations in over 70 countries.
As an IAA corporate member, Cutitta also served as the association’s vice president-Communications and Vision for the past three years.
A company release quoted Cutitta as saying, “It is an incredible honor to be selected to lead the IAA and its prestigious membership base. I look forward to upholding the strong traditions of the organization while assuring it mirrors the latest trends and best practices that our constituents need to grow professionally in this very dynamic industry.”
Brands
Sapphire Foods FY26 revenue rises to Rs 3,125 crore, posts loss
Q4 revenue at Rs 792 crore, FY26 loss at Rs 32 crore amid cost pressures.
MUMBAI: If growth is on the menu, profitability seems to have taken a brief detour. Sapphire Foods India reported a steady rise in topline for FY26, even as rising costs weighed on profitability. Revenue from operations grew to Rs 3,125 crore for the year ended March 31, 2026, up from Rs 2,882 crore in FY25. However, the company swung to a loss, reporting a net loss of Rs 32 crore for FY26, compared to a profit of Rs 17 crore in the previous year. Total income for the year stood at Rs 3,153 crore, while total expenses climbed to Rs 3,167 crore, reflecting pressure across key cost heads.
In the March quarter, revenue came in at Rs 792 crore, compared to Rs 711 crore in the same period last year. The company reported a quarterly net loss of Rs 13 crore, against a profit of Rs 2 crore a year earlier.
Cost pressures remained visible across operations. Material costs rose to Rs 995 crore for FY26, while employee expenses increased to Rs 428 crore. Other expenses, the largest component, stood at Rs 1,229 crore, underscoring the impact of store operations and expansion-related spends.
Depreciation and amortisation expenses also climbed to Rs 392 crore for the year, reflecting continued investments in store infrastructure and growth.
At the operating level, the company reported a loss before tax of Rs 37 crore for FY26, compared to a profit of Rs 23 crore in FY25. Exceptional items added Rs 24 crore to the cost burden during the year.
On the balance sheet, total assets rose to Rs 3,256 crore as of March 31, 2026, up from Rs 3,041 crore a year earlier, indicating ongoing expansion. Net worth stood at Rs 1,389 crore.
Despite profitability pressures, operating cash flow remained resilient at Rs 507 crore, highlighting underlying business strength and demand stability.
The numbers paint a familiar picture in the quick-service restaurant space, growth continues to be served hot, but margins are still finding their footing.
