Jubilant FoodWorks tanks ~6% on lacklustre numbers in Q3FY23

2 Feb 2023 , 11:30 AM

Jubilant FoodWorks reported a 36% drop in net profit to Rs88 crore for the three months ended December 2022. In the same period last year, the figure was Rs137 crore.

Jubilant FoodWorks, the Domino’s operator in India, saw a 10% increase in revenue from operations to Rs1,316 crore, owing to an increase in Domino’s orders.

EBITDA (earnings before interest, tax, depreciation, and amortization) for the company was Rs290 crore, while margins fell 457 basis points to 22%.

The performance during the quarter was primarily influenced by high inflation.

The Chairman of Jubilant FoodWorks, Shyam S Bhartia, stated that the performance of the company was affected due to the historic high inflation and its resulting impact on demand in a challenging environment.

During the quarter, the company opened 64 new stores in India, bringing the total number of stores in the country to 1,814 across all brands. Domino’s India has increased its network strength to 1,760 stores across 387 cities with the addition of 60 new stores and entry into 16 new cities.

At around 11.25 AM, Jubilant FoodWorks was trading at Rs431, down by 5.58% against the previous close of Rs456.45 on NSE. The counter touched an intraday high and low of Rs445.25 and Rs424.45 respectively.

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