CHENNAI (Reuters) – Jubilant FoodWorks reported a 74% fall in quarterly profit on Tuesday as the Domino’s Pizza’s Indian franchisee grappled with higher costs while also spending heavily to expand in the country.
Consolidated profit fell to 289.2 million rupees ($3.53 million) for the first quarter ended June 30, from 1.13 billion rupees, a year earlier, Jubilant said in an exchange filing.
($1 = 81.8250 Indian rupees)
(Reporting by Praveen Paramasivam in Chennai)
