Domino's India franchisee Jubilant reports two-fold surge in Q1 profit
Jubilant FoodWorks (JUBI.NS), opens new tab, Domino’s Pizza’s (DPZ.N), opens new tab Indian franchisee, reported a near two-fold increase in first-quarter profit on Friday, as value meals attracted budget-conscious customers.
Consolidated net profit rose to 558 million rupees ($6.65 million) for the quarter ended June 30, from 289.2 million rupees a year earlier, it said in an exchange filing.
Persistently high inflation has been prompting consumers to pare back spending on dining out or ordering in. India’s retail inflation hovered around 5% throughout the quarter amid high food prices, increasing cost pressure on the quick-service restaurant sector.
To spur demand Jubilant offered free home delivery and value deals such as meals for 99 rupees ($1.18), in a quarter that coincided with the T20 Cricket World Cup and school summer vacations.