Jubilant Foodworks, the operator of the fast-food chains Domino’s Pizza and Dunkin’, on Wednesday, reported a decline of 18.2 per cent in consolidated net profit to Rs 65.70 crore in the third quarter (Q2) ended December 2023 as against the net profit of Rs 80.36 crore in the same period of the previous fiscal, according to a BSE filing.
However, its total income was up to Rs 1,382.27 crore in Q3 FY24 as against the total income of Rs 1,341.38 crore in Q3 FY23.
The company’s total expenses for the December quarter also grew to Rs 1,311.9 crore in Q3 FY24 as against the total expenses of Rs 1,229.8 crore in the same period of the last fiscal, as per the regulatory filing.
Shyam S. Bhartia, chairman and Hari S. Bhartia, co-chairman, Jubilant FoodWorks Limited said, “Sustained delivery growth, highest ticket in nine quarters without a price increase since last six quarters, adept cost optimization 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.”
Bhartia further stated that the completion of Jubilant Food Park Bangalore greatly improves their operational skills, in-house integration with ONDC exhibits digital expertise, and the acquisition of a majority interest in DP Eurasia unlocks a revitalised, lucrative growth trajectory.
Sameer Khetarpal, CEO and MD of the company said, “A series of proactive, strategic decisions being taken on a continual basis is helping us navigate the muted demand environment well. The successful creation of a dedicated spending pool via Project Vijay for pizza category development, sharpening our on-ground executional capabilities, accelerated expansion of Popeyes network, and the continual reinforcement of our competitive strengths in delivery, technology, and supply chain are all key elements that will reignite the growth engine for our India business.”
With the addition of 40 new stores and entry into 10 new cities, Domino’s India expanded its network strength to 1,928 stores across 407 cities.
Popeyes accelerated its network development by building ten new restaurants and expanding into four additional cities – Mysore, Mangalore, Cuddalore, and Mohali – bringing the total number of locations to 32 across ten cities.
Hong’s Kitchen added four additional stores and expanded into one more city, bringing the total number of locations to 22 across four cities. Dunkin’ Donuts inaugurated four additional stores, including one in Lucknow, giving the firm a total of 25 locations across eight cities, according to a media release.
