Jubilant FoodWorks posts net loss of Rs 74 crore amid COVID-19
Jubilant FoodWorks posts net loss of Rs 74 crore amid COVID-19
Vincent Rivaud

Jubilant FoodWorks Ltd, which operates fast-food chains Domino's Pizza and Dunkin' Donuts, reported a consolidated net loss of Rs 74.47 crore for the first quarter ended June 2020, impacted by closure of stores due to COVID-19 pandemic and consequent lockdown.

The company had posted a net profit of Rs 71.48 crore in April-June quarter a year-ago, Jubilant FoodWorks Ltd (JFL) said in a BSE filing.

Its revenue from operations declined 59.07 per cent to Rs 388.41 crore during the quarter under review as against Rs 949.11 crore in the corresponding quarter last fiscal.

"The impact of COVID-19 was felt severely in Q1 FY21. The nationwide lockdown led to a complete closure of stores initially, with dine-in and takeaway remaining closed for most of the quarter," JFL said in a post earning statement.

JFL's total expenses fell 41.54 per cent to Rs 499.03 crore during the quarter under review as against Rs 853.71 crore a year ago.

The company enacted several measures to contain the impact of operating de-leverage.

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