Latest news with #Devyani
Time of India
2 days ago
- Business
- Time of India
Domino's India operator beats quarterly profit view on strong delivery demand
Domino's India operator Jubilant Foodworks beat first-quarter profit estimates by a wide margin on Wednesday as lower-priced menu items and free deliveries bolstered demand even as other fast-food franchisees struggled. The company reported profit of 917.6 million rupees ($10.49 million) for the quarter ended June 30, compared to a year ago profit of 558 million rupees. Analysts on average were expecting a profit of 645.6 million rupees, according to data compiled by LSEG. Urban Indian consumers are cutting back on non-essentials amid high living costs, denting same-store sales at budget retailers like Trent and fast food chains including Pizza Hut operators Sapphire India and Devyani International. Jubilant is an outlier in this environment, having reported double digit like-for-like sales growth for atleast three quarters. In the reported quarter ended June, like for like sales at Domino's India restaurants grew 11.6%, led by 20.1% growth in delivery. Sapphire's same store sales at Pizza Hut India fell 8% in the same period, while Devyani's fell 4.2%. Jubilant has not raised prices on average in more than ten quarters, opting to cut costs to drive profitability. In addition to providing value combinations and expanding store count, it has also waived delivery fees on app orders, while sharpening its focus on 20-minute deliveries in dense metros. Rival Devyani, on Wednesday, said it is taking cues from Jubilant's success with its 20-minute delivery model, and strengthening its own food-delivery business. "Jubilant is doing a far, far better job versus what we are it is a delivery first brand," a Devyani executive said on a post-earnings call with analysts. Jubilant's efforts drove first quarter revenue higher by 17%to 22.61 billion rupees. However, its consolidated core profit margin contracted to 19.4% from 19.8%, due to a higher mix of delivery and investments to power sales growth.
Time of India
3 days ago
- Business
- Time of India
Domino's India operator beats quarterly profit view on strong delivery demand
Domino's India operator Jubilant Foodworks beat first-quarter profit estimates by a wide margin on Wednesday as lower-priced menu items and free deliveries bolstered demand even as other fast-food franchisees struggled. The company reported profit of 917.6 million rupees ($10.49 million) for the quarter ended June 30, compared to a year ago profit of 558 million rupees. Analysts on average were expecting a profit of 645.6 million rupees, according to data compiled by LSEG. Urban Indian consumers are cutting back on non-essentials amid high living costs, denting same-store sales at budget retailers like Trent and fast food chains including Pizza Hut operators Sapphire India and Devyani International. Jubilant is an outlier in this environment, having reported double digit like-for-like sales growth for atleast three quarters. In the reported quarter ended June, like for like sales at Domino's India restaurants grew 11.6%, led by 20.1% growth in delivery. Sapphire's same store sales at Pizza Hut India fell 8% in the same period, while Devyani's fell 4.2%. Jubilant has not raised prices on average in more than ten quarters, opting to cut costs to drive profitability. In addition to providing value combinations and expanding store count, it has also waived delivery fees on app orders, while sharpening its focus on 20-minute deliveries in dense metros. Rival Devyani, on Wednesday, said it is taking cues from Jubilant's success with its 20-minute delivery model, and strengthening its own food-delivery business. "Jubilant is doing a far, far better job versus what we are it is a delivery first brand," a Devyani executive said on a post-earnings call with analysts. Jubilant's efforts drove first quarter revenue higher by 17%to 22.61 billion rupees. However, its consolidated core profit margin contracted to 19.4% from 19.8%, due to a higher mix of delivery and investments to power sales growth.
Time of India
3 days ago
- Business
- Time of India
KFC India operator Devyani reports lower profit as ad spending rises
Devyani International , which operates Pizza Hut and KFC restaurants in India, reported a nearly 88% slump in first-quarter profit on Wednesday, as it ramped up advertising to whip up demand that has remained sluggish for months. The Yum Brands franchisee reported a net profit of 36.9 million rupees ($420,920.55) for the quarter ended June 30, compared with 301.06 million rupees a year earlier. Popular fast food chains in India have been struggling to grow the average daily spending as urban customers tighten their wallets amid high costs of living and feeble wage growth, despite easing inflation. Yum's franchisee partners, Devyani and Sapphire Foods , both of which operate Pizza Hut and KFC in India, have also turned to offering heavy discounts on meals amid promotional launches. For the quarter, Devyani offered nine fried chicken pieces for 299 rupees, in a deal called 'epic savers'. It also offered two side dishes and a free Pepsi bottle with a medium-sized thin crust pizza at its Pizza Hut restaurants. Still, the average daily spending fell to 98,000 rupees from 104,000 rupees a year ago at KFC chains, and to 33,000 rupees from 36,000 rupees at Devyani's Pizza Hut restaurants. "While near-term macro factors have led to a phase of soft consumer demand, we see a better outlook for the industry in coming times," non-executive chairman Ravi Jaipuria said in a statement. Revenue from operations rose 11.1% year-on-year to 13.57 billion rupees, benefitting from a restaurant count that was higher by over 300 year-on-year, including the addition of the recently acquired 'Biryani by Kilo' chain. However, lower margins weighed on profitability.
Time of India
3 days ago
- Business
- Time of India
Jubilant Foodworks Q1 Results: Domino's India operator beats St view with Rs 91.76 crore profit on strong delivery demand
Domino's India operator Jubilant Foodworks beat first-quarter profit estimates by a wide margin on Wednesday as lower-priced menu items and free deliveries bolstered demand even as other fast-food franchisees struggled. The company reported profit of 917.6 million rupees ($10.49 million) for the quarter ended June 30, compared to a year ago profit of 558 million rupees. Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Get Rewards for Trading Vantage Markets IN Register Undo Analysts on average were expecting a profit of 645.6 million rupees, according to data compiled by LSEG. Urban Indian consumers are cutting back on non-essentials amid high living costs, denting same-store sales at budget retailers like Trent and fast food chains including Pizza Hut operators Sapphire India and Devyani International . Jubilant is an outlier in this environment, having reported double digit like-for-like sales growth for atleast three quarters. Live Events In the reported quarter ended June, like for like sales at Domino's India restaurants grew 11.6%, led by 20.1% growth in delivery. Sapphire's same store sales at Pizza Hut India fell 8% in the same period, while Devyani's fell 4.2%. Jubilant has not raised prices on average in more than ten quarters, opting to cut costs to drive profitability. In addition to providing value combinations and expanding store count, it has also waived delivery fees on app orders, while sharpening its focus on 20-minute deliveries in dense metros. Rival Devyani, on Wednesday, said it is taking cues from Jubilant's success with its 20-minute delivery model, and strengthening its own food-delivery business. "Jubilant is doing a far, far better job versus what we are it is a delivery first brand," a Devyani executive said on a post-earnings call with analysts. Jubilant's efforts drove first quarter revenue higher by 17%to 22.61 billion rupees. However, its consolidated core profit margin contracted to 19.4% from 19.8%, due to a higher mix of delivery and investments to power sales growth. ($1 = 87.4380 Indian rupees)
Business Recorder
3 days ago
- Business
- Business Recorder
Domino's India operator beats quarterly profit view on strong delivery demand
Domino's India operator Jubilant Foodworks beat first-quarter profit estimates by a wide margin on Wednesday as lower-priced menu items and free deliveries bolstered demand even as other fast-food franchisees struggled. The company reported profit of 917.6 million rupees ($10.49 million) for the quarter ended June 30, compared to a year ago profit of 558 million rupees. Analysts on average were expecting a profit of 645.6 million rupees, according to data compiled by LSEG. Urban Indian consumers are cutting back on non-essentials amid high living costs, denting same-store sales at budget retailers like Trent and fast food chains including Pizza Hut operators Sapphire India and Devyani International. Jubilant is an outlier in this environment, having reported double digit like-for-like sales growth for atleast three quarters. In the reported quarter ended June, like for like sales at Domino's India restaurants grew 11.6%, led by 20.1% growth in delivery. India's Muthoot Finance beats quarterly profit view on strong loan growth Sapphire's same store sales at Pizza Hut India fell 8% in the same period, while Devyani's fell 4.2%. Jubilant has not raised prices on average in more than ten quarters, opting to cut costs to drive profitability. In addition to providing value combinations and expanding store count, it has also waived delivery fees on app orders, while sharpening its focus on 20-minute deliveries in dense metros. Rival Devyani, on Wednesday, said it is taking cues from Jubilant's success with its 20-minute delivery model, and strengthening its own food-delivery business. 'Jubilant is doing a far, far better job versus what we are it is a delivery first brand,' a Devyani executive said on a post-earnings call with analysts. Jubilant's efforts drove first quarter revenue higher by 17%to 22.61 billion rupees. However, its consolidated core profit margin contracted to 19.4% from 19.8%, due to a higher mix of delivery and investments to power sales growth.
