Domino`s India operator posts quarterly profit spike as demand stays upbeat
Domino's India operator posted a quarterly profit that almost tripled from a year earlier on Thursday, as demand for its affordable pizzas and combo deals stayed strong, bucking the broader slowdown in the quick-service food industry.
The company has stood out as a rare outperformer in an environment where fast-food chains have struggled for over a year to attract consumers amid fierce competition from local rivals and only a tentative recovery in urban spending.
The company has held menu prices for most items steady for roughly three years, and has cut costs and drove volume through value meals, app-based delivery fee waivers and faster 20-minute delivery promise in key cities.
Jubilant Foodworks reported a profit of 1.86 billion rupees ($21.16 million) for the quarter ended September 30, compared to a profit a year ago of 640.5 million rupees.
Revenue from operations rose nearly 20% to 23.4 billion rupees.
($1 = 87.8950 Indian rupees)
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