Food service company Jubilant Foodworks posted a 59 percent year-on-year fall in standalone net profit at Rs 47.5 crore for the three months ended March 2023 (Q4FY23). The same was Rs 116 crore in the corresponding quarter of last year. The profit figure was much lower than CNBC-TV18's poll of Rs 70 crore. Shares of the prominent pizza maker were trading 1.79 percent higher at Rs 475.05 apiece on Wednesday.

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The operator of Domino's in India saw a 8 percent growth in revenue from operations at Rs 1,252 crore, as compared to to Rs 1,158 crore in the year-ago period. According to a CNBC-TV18 poll, analysts anticipate a revenue growth of around 9 percent, amounting to approximately Rs 1,250 crore.

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The company's earnings before interest, tax, depreciation and amortisation or EBITDA tumbled 13 percent year-on-year to Rs 252 crore for the March quarter, while margins declined 488 basis points on-year to 20.1 percent.

"There are near term concerns around historic high inflation and slowing market growth, but we are confident on our unique ecosystem’s ability to tap on the potential that lies ahead of us and reorient the business to deliver sustained profitable growth," said Shyam S Bhartia, Chairman and Hari S Bhartia, Co-Chairman at Jubilant FoodWorks Limited.

Dominos LFL (like-for-like) growth came in at -0.6 percent versus CNBC-TV18's poll of -3 percent to +2 percent.

"We are accelerating efforts to execute and deliver on the plans we’ve put into action to revert to high top-line growth while significantly improving all aspects of our cost structure. This quarter saw encouraging progress on registering order led growth while limiting the impact of inflation on our gross margins through a series of well-timed interventions," said Sameer Khetarpal, CEO and MD, Jubilant FoodWorks.

The firm opened 61 new stores in India during the March quarter. With the addition of 56 new stores and entry into six new cities, Domino’s has expanded its network strength to 1,816 stores across 393 cities.

The company opened one new restaurant for Popeyes and Hong’s Kitchen, taking their network tally to 13 stores each. In Dunkin’, three new coffee-first stores were opened. 8 out of 21 Dunkin' stores are now as per the brand’s new Coffee-first identity.

The company's board has recommended a dividend of Rs 1.2 per equity share — a 60 percent dividend given the face value of Rs 2 per share for financial year 2023-23.

First Published:May 17, 2023 1:35 PM IST