Jubilant FoodWorks, which is known for food outlets including Domino's Pizza and Dunkin’ Donuts, said that it has closed one Dunkin’ Donuts store in the Q4.
Jubilant FoodWorks, owner of Domino’s pizza and Dunkin’ Donuts has released its Q4 results today and said that while the group has launched 30 Dominos store in the same quarter, it has not opened a single Dunkin Donuts store. The group, which is known for food outlets including Domino’s Pizza and Dunkin’ Donuts, said that it has, in fact, closed one Dunkin’ Donuts store in the Q4 while not opening one. Also, 3 Dominos Pizza Restaurants were shut down. The chain has more than 1200 Domino’s outlet in the country now. It also operates 31 Dunkin’ Donuts outlets across India market.
Reporting a single-digit growth in same-store-sales, the Jubilant FoodWorks also announced that the pizza chain has recorded double-digit growth in both quarter-on-quarter basis and year-on-year basis. While its q-o-q growth was at 14.6%, it also witnessed a 26.5% growth on y-o-y basis. In the previous quarter, the company had reported a 46.2% increase in net profits on a y-o-y basis. “Jubilant Food reports a slightly lower net profit due to a one-time loss of Rs 8 crore and higher tax expense of Rs 41 crore,” CNBC TV-18 reported.
The company was found guilty of anti-profiteering in February 2019 and was slapped a penalty of Rs 41 crore by NAA. JFL, however, in its defence had said that National Anti-Profiteering Authority did not take into account the impact of input credit withdrawal. “We would like to assert that the loss to the company due to Input Credit withdrawal was far higher than the price increase that was taken, and this wasn’t taken into account,” Jubilant FoodWorks had said in a statement.
Previously, Jubilant FoodWorks entered into Chinese cuisine with the launch of Hong’s Kitchen. The company said that the segment is large and growing fast in India. Hong’s Kitchen has opened its first outlet in Eros Mall, Gurugram. “Hong’s Kitchen will help us venture into the Chinese cuisine for the first time and hence, together, with the existing brands of Domino’s and Dunkin’ help build a stronger portfolio for JFL,” the company had previously said.