Shares of Jubilant Foodworks gained by a percent to Rs 528 per share on June 11 after its quick-service restaurant chain Domino's Pizza crossed 2,000-store mark in India.
In the past three months, the stock of this food service company has surged over 15 percent, outperforming Nifty 50 index that rose by 4 percent during the same period. Earlier, Jubilant Foodworks had hit 52-week high of Rs 586 per share on December 22, 2023 and 52-week low of Rs 420 on March 14, 2024.
Catch all the market action in our LIVE blog
With 2,000 store launch in India, Domino's Pizza has become the first QSR in India to achieve this milestone. India is now Domino's number 1 market outside the US and the last 500 restaurants were opened in a record time of only 29 months.
Earlier this year, the company announced Free delivery on all orders worth more than Rs 150 in its ongoing commitment to offer renowned value to customers.
"Domino’s Pizza India opened its first store in New Delhi in 1996, and today serves over 200 million pizzas annually through 2,000 stores spread across 421 cities. While the first 500 stores in the country took over 16 years, the last 500 have come only in 29 months reaffirming the brand’s commitment to accelerated expansion in India," the management said in an exchange filing.
ALSO READ: Domino's aims to double store count to 4,000 in India in 5-6 years
Going ahead, the management expects to add another 180 stores of Domino's in the current financial year.
In the March-ended quarter, the company saw net profit grow 7x to Rs 208 crore from Rs 28 crore in the year-ago period. Revenues also rose 23.8 percent on-year to Rs 1,572 crore in Q4FY24.
For the international market, revenue from operations totaled Rs 2,427 million, mainly due to a two-month revenue contribution of Rs 2,174 million from Turkey, Azerbaijan, and Georgia.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
