Jubilant Foodworks Ltd is the operator of Domino’s Pizza and Dunkin’ Donuts restaurants in India, swung to a consolidated net profit of Rs 69.06 crore in the first quarter of the fiscal year (Q1FY22), from a year-ago loss.
The company, which also operates Hong’s Kitchen and Ekdum! Chain of restaurants recorded a net loss of Rs 74.47 crore in the year-ago quarter. Consolidated revenue from operations more than doubled to Rs 893.18 crore in the three months ended 30 June from Rs 388.41 crore a year earlier. This was helped by growth in Domino’s delivery channel, which offset the impact of covid-related curbs on dining-in and takeaway channels during the quarter. Jubilant Foodworks plans to add 150-175 outlets of Domino’s Pizza this fiscal to tap the market demand.
“Domino’s will continue to power ahead, and we see a clear potential of 3,000 stores in India, in the medium-to-long term for the brand,” Pratik Pota, chief executive officer and whole-time director, Jubilant Foodworks said, during a post-earnings call with analysts. The company had announced shutting down more than 100 Domino’s Pizza outlets in the September quarter last year.
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Jubilant Foodworks will also invest in expanding its other brands, including Hong’s Kitchen and Popeyes, as the food services company sees significant structural changes in the eating out market in the future. This is especially true as the category is seeing greater digitization with accelerated consumer adoption of online ordering.
Stock Covered in the news