Earnings Review
Jubilant Food Q3 PAT misses Street view on labour code cost
This story was originally published at 19:10 IST on 10 February 2026
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--Jubilant Food Oct-Dec net profit INR 540.79 mln
--Analysts saw Jubilant Food Oct-Dec net profit at INR 821.83 mln
--Jubilant Food Oct-Dec revenue INR 18.02 bln
--Analysts saw Jubilant Food Oct-Dec revenue at INR 18.13 bln
--Jubilant Food Oct-Dec net profit INR 540.79 mln vs INR 410.46 mln yr ago
--Jubilant Food Oct-Dec revenue INR 18.02 bln vs INR 16.11 bln year ago
--Jubilant Food: Labour code implementation cost INR 337.04 mln in Oct-Dec
--Jubilant Food Oct-Dec profit excluding labour code impact INR 877.83 mln
--Jubilant Food Apr-Dec net profit INR 1.85 bln vs INR 1.45 bln yr ago
--Jubilant Food Apr-Dec revenue INR 52.02 bln vs INR 45.17 bln year ago
--Jubilant Food Oct-Dec EBITDA INR 3.69 bln, up 18.1% on year
--Jubilant Food Oct-Dec EBITDA margin 20.5%, up 109 bps on year
--Jubilant Food Oct-Dec Domino's India revenue up 10.7% on year
--Jubilant Food Oct-Dec Domino's India like-for-like YoY revenue growth 5%
--Jubilant Food Oct-Dec Domino's India order growth 9.6% on year
By Gunjan Rajput
MUMBAI – Jubilant FoodWorks Ltd. Tuesday reported a year-on-year rise in net profit and revenue for the December quarter, but the net profit missed analysts' consensus estimate owing to a large one-time cost on account of the new labour codes. The company's revenue growth slowed to its weakest pace in five quarters.
Jubilant FoodWorks reported a net profit of INR 540.79 million for the December quarter, up nearly 32% on year, but well below analysts' estimate of INR 821.83 million.
The revenue of Jubilant Foodworks, master franchisee of Domino's, for the reporting quarter was INR 18.02 billion, up nearly 12% on year. This was marginally lower than the Street's expectation of INR 18.13 billion.
The company incurred a one-time cost of INR 337.04 million for the reporting quarter due to implementation of the new labour codes. Excluding this impact, its net profit would have stood at INR 877.83 million, higher than analysts' expectations.
The company's earnings before interest, tax, depreciation, and amortisation rose a little over 18% on year to INR 3.69 billion, with the EBITDA margin improving 109 basis points to 20.5%. Domino's India business revenue grew 10.7% on year, and like-for-like sales growth was at 5%, with a 9.6% increase in order volumes.
The company's total expenses during the December quarter rose over 10% on year to INR 17.02 billion. The company added 114 stores globally, of which 93 were Domino's stores. In India, the company expanded into 11 new cities and opened 78 Domino's stores. Other brands such as Popeyes reported high double-digit like-for-like growth, supported by strong order growth and higher bill per order. It also added five new Popeyes stores in the quarter.
Sri Lanka and Bangladesh delivered consistent top-line growth, the company said in an investor presentation. Its Sri Lanka business reported a revenue of INR 353 million, up 66% on year. Revenue from the Bangladesh operations rose nearly 27% on year to INR 219 million.
For the nine months ended Dec. 31, Jubilant FoodWorks' net profit rose nearly 28% on year to INR 1.85 billion. The company's top line for the period rose over 15% on year to INR 52.02 billion. Tuesday, shares of the company ended 1.1% higher at INR 554.45 on the National Stock Exchange. The company announced its earnings after market hours. End
Edited by Rajeev Pai
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