Jubilant FoodWorks' net profit up by 58% in Sep quarter on strong orders post COVID's second wave
- Shares of
Jubilant FoodWorksfell more than 8% on lower than expected same-store-sales of Domino’s Pizza.
- However, the company reported strong profit that jumped 58% to ₹121 crore in September quarter because of strong delivery and takeaway orders.
- Check the latest updates on Business Insider.
AdvertisementDomino’s Pizza operator Jubilant FoodWorks reported strong profit growth in the last three months because of pick up in delivery and takeaway orders.
The company delivered a profit growth of 58% at ₹121 crore in the September quarter. Despite good earnings investors were disappointed as shares of the company fell 8% on Wednesday after the earnings release as same-store-sales were lower than expected.
Its same-store-sale growth grew by 26.3% in the July-September quarter, below analysts expectation of 30-35% growth, according to a CNBC-TV18 report.
Jubilant FoodWorks also undertook a one-time loss of ₹1.25 crore to support its employees affected by the COVID-19 pandemic during the quarter.
Moreover, the company added 60 new stores in the last three months with 55 stores of Domino’s, two stores each for Dunkin’ Donuts and Hong’s Kitchen and one store of Ekdum!.
As of September 30, 2021 the company has 1,435 restaurants across 307 cities in India.
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