Jubilant Foodworks Q3 profit down 40% to Rs 80 crore; revenue rises 10% to Rs 1,332 crore

"The increase in revenue was primarily driven by growth in orders for Domino’s. The Domino’s Like-for-Like growth came in at 0.3 per cent. The Delivery channel registered 9.9 per cent growth led by orders partially offset by a decline in the ticket. The Dine-in and Takeaway channels combined registered 9.8 per cent growth driven by an increase in ticket and orders," said JFL's earning statement.

JFL's total expenses were at Rs 1,229.79 crore, up 18.22 per cent in Q3 FY23.

During the quarter, JFL opened 60 new restaurants for Domino’s Pizza, adding 16 cities to its network.

It was operating a total of 1,760 restaurants as of December 31, 2022 across 387 cities.

The company is also sunsetting two of its QSR businesses — ChefBoss and Ekdum! During the quarter, in Sri Lanka, JFL registered system sales growth of 24.9 per cent and opened 7 new stores, taking the network strength to 47 stores, while in Bangladesh, system sales grew by 44.7 per cent, taking the store count to 13.

JFL is the exclusive master franchise to develop and operate the Domino's Pizza brand in India, Sri Lanka, Bangladesh and Nepal.

It also has the franchise rights of American multinational chain of fried chicken fast food restaurants 'Popeyes' for the Indian market. It opened 4 new stores, taking the network tally to 12 stores in Bengaluru.

JFL Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia said: "In a challenging environment marked by historic high inflation and consequential impact on demand, our performance was impacted. The strength of our brands, continued focus on delivering high value, and an array of planned, strategic interventions will help us navigate the current situation and reorient the business to robust, profitable growth." Shares of Jubilant FoodWorks Ltd on Wednesday settled at Rs 456.60 on BSE, down 6.26 per cent from the previous close.