Updated December 20th, 2023 at 16:51 IST
Jubilant FoodWorks surges after Domino’s maintains market dominance
Shares of Jubilant FoodWorks, the master franchise holder for Domino’s in India, surged
Shares of Jubilant FoodWorks, the master franchise holder for Domino’s in India, surged 3.82 per cent to hit an intraday high of Rs 586 after the company's top official stated that Dominos witnessed an increasing growth in the pizza category.
Sameer Khetarpal, CEO and MD at Jubilant FoodWorks, said, "Our market share in the pizza category has increased versus all the other players. We are poised to grow 2-3 per cent, with 10 per cent store addition annually."
Indians are consuming more of Domino’s pizza over its competitors, due to new campaigns, and delivery promises. The company also saw good demand when India played in the World Cup, which concluded on November 19.
Recently, Domino's utilised 3D anamorphic billboards in Delhi for the first time in the QSR industry as part of IHOP campaign.
Sandeep Anand, EVP and CMO at Domino’s India, said, "Amplified through strategic social media channels, this campaign is designed to maximize engagement and reinforce Domino's position as the top culinary choice."
Focused on expanding Popeyes, a fried-chicken brand's, footprints in India, Sameer Khetarpal said, "Popeyes will be the fastest QSR in India to cross Rs 1,000 crore in sales."
In quarter ending September, the company's standalone profit declined 39.5 per cent annually to Rs 72.1 crore, as against Rs 119.2 crore in the year-ago period.
During the second quarter, the company posted a 4.5 per cent annual rise in revenue from operations to Rs 1,344.8 crore as compared to Rs 1,286.8 crore in the year-ago period.
As of 12:27 pm, Jubilant FoodWorks was 2.62 per cent higher at Rs 579.20 per share.
Published December 20th, 2023 at 13:03 IST