Jubilant FoodWorks, the main franchisee of Domino’s Pizza in India, said its March quarter revenue was 8.2% higher than a year ago at ₹1,252.3 crore, sending shares up.
What Happened? While the company’s topline was strong, its profit after tax sank to ₹47.5 crore from ₹116.1 crore last year. The company also announced a dividend of ₹1.2 per share on the back of the results.
The company said it opened 56 new Domino’s stores during the quarter. However, the brand’s like-for-like sales edged lower by 0.6%.
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“This quarter saw encouraging progress on registering order-led growth while limiting the impact of inflation on our gross margins through a series of well-timed interventions,” said Sameer Khetarpal, CEO and managing director of Jubilant FoodWorks.
The company said in March that it was looking to expand the Popeye’s franchise in India.
Price Action: Jubilant FoodWorks’ shares were up 1.8% at ₹474.90 in afternoon trade after spending most of the day in the red.
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