BENGALURU (Reuters) – Domino’s Pizza’s Indian franchisee Jubilant Foodworks reported a surprise drop in third-quarter profit, hurt by muted demand and growing competition from smaller pizza makers.
Jubilant’s consolidated net profit fell to 657.1 million rupees ($7.9 million) from 803.6 million rupees a year earlier, missing analysts’ average expectation of 902.6 million rupees, per LSEG data.
($1 = 83.0350 Indian rupees)
(Reporting by Nandan Mandayam in Bengaluru; Editing by Sohini Goswami)
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