This is very common cichlid behavior, and often results in the death of the female.
If you remove the female, leaving the male with the fry, there is a 50/50 chance he will lose interest in guarding the fry, and eat them.
If the scenario happens in my tanks, I prefer remove the male cichlid, because the female has more energy invested in keeping fry alive.
I then (guardedly) put the pair back together after the fry are gone, and, after a bit of recovery time for the female has gone by.