Jubilant FoodWorks Q3 profit rises 22 pc to Rs 123.91 cr

New Delhi, February 3 dmanewsdesk: Food services firm Jubilant FoodWorks, which operates Domino ‘s Pizza and Dunkin” Donuts chains in India, on Wednesday reported a 21.71 per cent increase in consolidated profit at Rs 123.91 crore in the third quarter ended December 2020.

The company had posted a profit of Rs 101.80 crore in the same quarter a year ago, Jubilant FoodWorks said in a regulatory filing.

Revenue from operations during the quarter under review stood at Rs 1,069.27 crore as compared to Rs 1,071.36 crore in the same period of the last financial year, a decline of 0.19 per cent, it added.

Commenting on the overall performance, Jubilant FoodWorks Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia said the company has seen complete revenue recovery of the business and strong improvement in margins.

Our aggressive network expansion of 57 stores last quarter, along with the launch of Ekdum Biryanis is testimony to our confidence in the strong potential of the business.

As the COVID impact abates further, we believe that we are in for a period of robust and sustained growth in the future, they said.

Pratik Pota, Chief Executive Officer and Wholetime Director, Jubilant Foodworks Ltd, said: “We turned the corner decidedly in Q3 with Domino’s returning to growth, driven by strong momentum in delivery and takeaway channels.

Our strong on-ground execution, consumer-relevant innovations, continued investments in digital, disciplined control on costs and a ramp-up in new stores all helped us deliver a strong performance last quarter. We are now shifting gears and preparing for an exciting period of growth ahead.

Source: PTI