Higher costs offset Domino's growth for India's Jubilant FoodWorks; profit flat
DPZ•DPZ•DPZ•DPZ•Jubilant FoodWorks reported second-quarter profit from continuing operations of 1.14 billion rupees, largely unchanged year over year, as higher costs offset growth. Revenue rose about 12% to 26.08 billion rupees.
Jubilant FoodWorks reported consolidated profit from continuing operations of 1.14 billion rupees, compared with 1.13 billion rupees a year earlier. Net profit fell more than 40% to 1.08 billion rupees; the year-ago quarter included an 812.2-million-rupee gain from discontinued operations and the sale of its stake in a Russian unit. Revenue rose around 12% to 26.08 billion rupees, while expenses increased 12.9% to 24.68 billion rupees.
Domino's India recorded like-for-like growth of 4.1%, up from 2.5% in the June quarter, while Popeyes logged like-for-like growth of 53%. The company said inflation had an approximately 200-basis-point impact because of higher liquefied petroleum gas costs, minimum wages and raw material costs, adding that oil and cheese prices were rising.
