Jubilant Foodworks, the owners of Domino's pizza and Dunkin' Donuts, reported a 23.5 per cent year-on-year drop in net profit for the March quarter. The sharp fall in profitability suggests higher input cost and weak discretionary spend by consumers.
Net profit for the fourth quarter ended March 2014 fell to Rs 25 crore as compared to Rs 32.7 crore in the same quarter last year, while sales increased 18.8 per cent year-on-year to Rs 433.7 crore.
Brokers polled by NDTV expected Jubilant Foodworks to report a profit of Rs 31.5 crore on sales of Rs 433 crore during the quarter.
Shares in Jubilant fell over 5 per cent after results were announced, but recovered sharply afterwards. As of 2.50 p.m., the rupee traded 0.12 per cent lower at Rs 1,154.
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