Jubilant Foodworks Q3 Net Profit Down 18.2%, Revenue Up 3.47%
Jan 31, 2024 18:15
Jubilant Foodworks, operator of Domino's Pizza and Dunkin' Donuts, reported an 18.23% decline in net profit for the December quarter, despite a 3.47% rise in revenue. Domino's delivery sales drove growth, with 58 new stores opened across India.
New Delhi, Jan 31 (PTI) Jubilant Foodworks Ltd (JFL), which operates fast-food chains Domino's Pizza and Dunkin' Donuts, on Wednesday reported an 18.23 per cent decline in consolidated net profit to Rs 65.70 crore for the December quarter.
The company had posted a consolidated net profit of Rs 80.36 crore in the year-ago period, Jubilant Foodworks Ltd (JFL) said in a regulatory filing.
However, its revenue from operations increased 3.47 per cent to Rs 1,378.11 crore during the quarter. It was at Rs 1,331.81 crore in the year-ago period, it added.
"The growth was driven by Domino's Delivery channel sales, which increased 6.2 per cent. The average daily sales of Domino's mature stores, came in at Rs 80,111," said an earning statement from JFL.
JFL's total expenses during the December quarter stood at Rs 1,311.94 crore, up 6.68 per cent.
The total income of JFL, India's largest food service company, rose 2.71 per cent to Rs 1,382.27 crore in the December quarter.
During the quarter, JFL opened 58 stores in India, taking its total count to 2,007 across all brands.
It opened 40 new stores of its flagship QSR chain Domino's, entering in 10 new cities. With this, the Domino's network expanded to 1,928 stores across 407 cities, JFL said in an earning statement.
It also stepped up the pace of network expansion of US-based fried chicken brand Popeye with the opening of 10 new restaurants, taking the network tally to 32 restaurants.
For QSR brands Hong's Kitchen and Dunkin', JFL opened four new restaurants, taking the total count to 22 and 25, respectively.
JFL Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia said, "Sustained delivery growth, highest ticket in nine quarters without a price increase in the last six quarters, adept cost optimisation making way for investments behind category development, and the accelerated expansion of Popeyes as an additional growth driver were the distinctive highlights from our quarter."
Shares of Jubilant Foodworks settled at Rs 519.60 on the BSE on Wednesday, up 1.82 per cent.
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