Jubilant FoodWorks revenue rises 12%, continuing profit flat

Jubilant FoodWorks Limited reported Rs 2,607.887 crore of revenue from operations for the quarter ended September 30, 2026, up 12% from Rs 2,331.667 crore a year earlier, while profit from continuing operations was nearly flat at Rs 113.906 crore versus Rs 113.373 crore. Expenses rose slightly faster than total income during the quarter.

Why did Jubilant FoodWorks revenue rise in Q2?

Jubilant FoodWorks increased revenue from operations by Rs 276.220 crore year on year in the quarter ended September 30, 2026. The company reports its activities as a single Food and Beverages segment under Indian Accounting Standard 108, or Ind AS 108, so the filing does not break out quarterly revenue by brand, country or format.

Other income rose to Rs 19.168 crore in the September 2026 quarter from Rs 15.170 crore a year earlier, taking total income to Rs 2,627.055 crore from Rs 2,346.837 crore. Revenue also increased sequentially by Rs 38.233 crore from Rs 2,569.654 crore in the quarter ended June 30, 2026, while total income rose by Rs 38.711 crore.

For the six months ended September 30, 2026, Jubilant FoodWorks recorded Rs 5,177.541 crore of revenue from operations, compared with Rs 4,583.855 crore in the corresponding six months of 2025. Continuing-operations profit was Rs 217.101 crore for the latest six-month period, marginally below Rs 217.373 crore a year earlier despite the Rs 593.686 crore rise in revenue.

Did Jubilant FoodWorks’ continuing profit grow in Q2?

Jubilant FoodWorks’ continuing-operations profit grew by Rs 0.533 crore, or about 0.5%, to Rs 113.906 crore in the September 2026 quarter. Profit before tax was Rs 162.118 crore, slightly below Rs 162.399 crore in the September 2025 quarter, while total tax expense declined to Rs 48.212 crore from Rs 49.026 crore.

The September result was higher than the preceding quarter’s Rs 103.195 crore continuing-operations profit for the quarter ended June 30, 2026. Basic and diluted earnings per share from continuing operations were Rs 1.68 in September 2026, compared with Rs 1.67 a year earlier and Rs 1.52 in the June 2026 quarter.

Profit before the share of associates’ profit and tax declined to Rs 159.045 crore from Rs 160.030 crore in the September 2025 quarter. Jubilant FoodWorks’ share of associates’ net profit increased to Rs 3.073 crore from Rs 2.369 crore, bringing profit before tax to Rs 162.118 crore despite the decline before associates’ contribution.

What costs limited Jubilant FoodWorks’ profit growth?

Jubilant FoodWorks’ total expenses increased by Rs 281.203 crore year on year to Rs 2,468.010 crore in the September 2026 quarter, exceeding the Rs 280.218 crore increase in total income. That difference left continuing-operations profit only Rs 0.533 crore above the Rs 113.373 crore reported in the corresponding quarter of 2025.

Employee benefits expense increased to Rs 451.233 crore from Rs 402.987 crore, while depreciation and amortisation expense rose to Rs 261.372 crore from Rs 227.921 crore. Other expenses rose by Rs 132.899 crore to Rs 920.840 crore, the largest stated increase among the main expense lines in the consolidated results.

Cost of materials consumed was Rs 527.836 crore, up from Rs 476.702 crore, and purchases of stock-in-trade rose to Rs 187.667 crore from Rs 183.881 crore. Finance costs increased to Rs 111.861 crore from Rs 105.220 crore, while inventory changes were an expense of Rs 7.201 crore after an expense of Rs 2.155 crore in the September 2025 quarter.

Why was Jubilant FoodWorks’ reported profit lower than last year?

Jubilant FoodWorks reported total profit of Rs 111.588 crore for the September 2026 quarter, down from Rs 194.596 crore a year earlier, because discontinued operations recorded a loss rather than the prior year’s reported profit. The current-quarter discontinued-operations loss was Rs 2.318 crore, compared with a Rs 81.223 crore profit in the consolidated statement for the September 2025 quarter.

The discontinued business is the Dunkin’ brand in India, after the board approved non-renewal of rights to develop and operate the brand during the quarter and year ended March 31, 2026. Dunkin’ recorded total income of Rs 3.606 crore and a net loss of Rs 2.318 crore in the September 2026 quarter; the detailed discontinued-operations statement shows Rs 8.544 crore of income and a Rs 3.472 crore net loss for the corresponding 2025 quarter.

The filing says Jubilant FoodWorks transferred its entire stake in Russian subsidiary Pizza Restaurants LLC during the year ended March 31, 2026. Its cash-flow statement for the six months ended September 30, 2025 records a Rs 84.695 crore gain on disposal of discontinued operations, which makes reported total profit less comparable across the two periods than profit from continuing operations.

What did Jubilant FoodWorks’ cash flow and balance sheet show?

Jubilant FoodWorks generated Rs 976.393 crore of net cash from operating activities in the six months ended September 30, 2026, compared with Rs 910.179 crore in the prior-year period. Operating profit before working-capital changes was Rs 1,083.138 crore, and income tax paid, net of refunds, was Rs 78.015 crore.

Investing activities used Rs 404.065 crore in the latest six-month period, compared with Rs 422.041 crore a year earlier. Purchases of property, plant and equipment and intangible assets were Rs 485.345 crore, slightly above Rs 479.241 crore in the six months ended September 30, 2025, while mutual-fund redemptions were Rs 102.741 crore.

Cash and cash equivalents stood at Rs 106.321 crore on September 30, 2026, down from Rs 128.823 crore at March 31, 2026. Non-current borrowings rose to Rs 1,481.295 crore from Rs 339.639 crore, while current borrowings fell to Rs 169.379 crore from Rs 1,405.593 crore; the filing presents the balances separately without giving a reason for the change.

Conclusion

Jubilant FoodWorks delivered higher September-quarter sales, with revenue from operations rising Rs 276.220 crore year on year, but the Rs 281.203 crore increase in expenses meant continuing-operations profit changed by only Rs 0.533 crore. The decline in total reported profit reflected discontinued operations, including the comparative period’s disposal-related gain, rather than a comparable deterioration in continuing profit.

The next disclosed matter to watch is the treatment of further developments under India’s Labour Codes. Jubilant FoodWorks recorded a Rs 33.704 crore exceptional charge in the year ended March 31, 2026 for additional gratuity and leave liabilities and said it continues to monitor developments; assets held for sale related to discontinued operations were Rs 11.638 crore on September 30, 2026.