Jubilant FoodWorks crashed over 6% to reach Thursday's intraday low of ₹425.
What Happened: The company reported an almost 40% year-over-year decline in its profit this quarter at ₹80.36 crore. However, the company's revenue rose by around 9.8% in this quarter to ₹1,331.81 crore as compared to ₹1,221.9 crore it booked in the third quarter of FY22.
The company attributed the decline in profits to the high inflation that ate into the company's margins even as the festive season rose the demand, helping the rise in total revenue.
The company said, that it added 60 new Domino's stores and entered 16 new cities during the quarter. This extends their network to 1,760 Domino's stores across 387 cities in the country.
The company's MD and CEO Sameer Khetarpal said that the launch of the 20-minute delivery proposition led to increased frequency across Domino's market.
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Talking about the company's international business Khetarpal said, that the company sees "momentum" in Sri Lanka and Bangladesh.
The company's Sri Lanka arm opened seven new stores in the quarter taking the total number to 47. The company also registered a system sales growth of 24.9%, "driven by the dine-in and takeaway channel growth."
In Bangladesh, system sales grew by 44.7%, as the company added two new stores taking the store tally to 13.
Price Action: Jubilant FoodWorks was down 5.13% at ₹433.15 in early trading on Thursday.
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