Jubilant FoodWorks Q2 FY27 profit falls 42% to ₹108 crore despite revenue rise
Synopsis
Jubilant FoodWorks posted a 42% crash in Q2 FY27 net profit to ₹108 crore even as revenues grew nearly 12% — a split verdict that exposes the growing cost burden on India's largest QSR operator. With EBITDA margins slipping and a key compliance officer transition underway, the company faces a critical second half of FY27.
Key Takeaways
Jubilant FoodWorks net profit fell 41.9 per cent YoY to ₹108 crore in Q2 FY27 , down from ₹186 crore a year ago.
Revenue from operations rose 11.8 per cent to ₹2,608 crore from ₹2,332 crore in Q2 FY26 .
EBITDA grew 7.3 per cent to ₹513 crore , but EBITDA margin contracted 80 basis points to 19.7 per cent .
Company Secretary Mona Aggarwal's notice period has been extended to 31 March 2027 from 13 November 2026 to ensure an orderly handover.
The company operates Domino's Pizza and other QSR brands in India.
Jubilant FoodWorks Limited, the operator of Domino's Pizza in India, reported a sharp 41.9 per cent year-on-year decline in consolidated net profit to ₹108 crore for the quarter ended September 2026 (Q2 FY27), down from ₹186 crore in the same period last year. The result, disclosed in a stock exchange filing on Friday, 6 November 2026, underscores the margin pressure the quick-service restaurant (QSR) sector is navigating even as top-line growth holds up.
Revenue Growth Masks Profit Squeeze
Revenue from operations climbed 11.8 per cent year-on-year to ₹2,608 crore in Q2 FY27, up from ₹2,332 crore a year earlier, driven by expansion in its food services business. However, the profit trajectory told a starkly different story, with net profit shrinking by nearly half — highlighting that growing sales alone is insufficient when cost structures widen.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose a modest 7.3 per cent year-on-year to ₹513 crore from ₹478 crore. Despite the absolute increase, EBITDA margin contracted by 80 basis points to 19.7 per cent, compared with 20.5 per cent in the year-ago quarter, according to the regulatory filing.
What Is Driving the Margin Contraction
The gap between revenue growth (11.8 per cent) and EBITDA growth (7.3 per cent) points to rising operating costs outpacing sales gains. For QSR operators, common cost drivers include real estate rentals tied to new store additions, elevated food and delivery costs, and technology investments — though the company did not explicitly itemise these drivers in the exchange filing. This is a broader trend across India's organised food-service sector, where aggressive network expansion competes with thin per-outlet margins.
Company Secretary's Notice Period Extended
Separately, Jubilant FoodWorks also informed stock exchanges that the notice period of Mona Aggarwal, the company's Company Secretary, Compliance Officer and Key Managerial Personnel (KMP), has been extended by mutual agreement with the board. Under the revised arrangement, Aggarwal will continue in her role until the close of business hours on 31 March 2027, rather than the previously announced last working day of 13 November 2026.
The company said the extension was intended 'to facilitate orderly transition of responsibilities.' All other details from its earlier filing dated 13 August 2026 — including the reason for her resignation — remain unchanged, it noted.
Outlook and What to Watch
Jubilant FoodWorks operates Domino's Pizza and other quick-service restaurant brands across India and select international markets. With revenue momentum intact but margins under pressure, analysts will watch whether the company can stabilise profitability in the second half of FY27 through store-level operating efficiencies or pricing action. The next quarterly result will be a key indicator of whether the Q2 margin dip is a temporary blip or a structural challenge for the country's largest pizza chain operator.
Point of View
More costs, diminishing per-unit returns. India's organised restaurant sector has been banking on a consumption revival that has been slower to materialise than projected. If cost rationalisation does not kick in by Q3 or Q4 FY27, the company may face pressure to slow its network rollout — which would, in turn, challenge the revenue growth narrative that has so far been the bulls' anchor.
NationPress
6 Nov 2026
Frequently Asked Questions
What were Jubilant FoodWorks' Q2 FY27 results?
Jubilant FoodWorks reported a 41.9 per cent year-on-year decline in net profit to ₹108 crore for Q2 FY27, the quarter ended September 2026, compared with ₹186 crore in the same quarter last year. Revenue from operations rose 11.8 per cent to ₹2,608 crore during the same period.
Why did Jubilant FoodWorks' profit fall so sharply despite revenue growth?
While revenue grew 11.8 per cent, EBITDA margin contracted 80 basis points to 19.7 per cent, indicating that operating costs grew faster than revenues. This margin squeeze, common in aggressively expanding QSR businesses, translated into a steeper net profit decline of nearly 42 per cent.
What happened to Jubilant FoodWorks' EBITDA in Q2 FY27?
EBITDA rose 7.3 per cent year-on-year to ₹513 crore from ₹478 crore, but the EBITDA margin fell to 19.7 per cent from 20.5 per cent in the year-ago quarter, reflecting higher operating costs relative to sales.
Who is Mona Aggarwal and why was her notice period extended?
Mona Aggarwal is the Company Secretary, Compliance Officer and Key Managerial Personnel of Jubilant FoodWorks, who had earlier submitted her resignation. Her notice period was extended by mutual agreement with the board until 31 March 2027, to facilitate an orderly transition of responsibilities.
What brands does Jubilant FoodWorks operate in India?
Jubilant FoodWorks operates Domino's Pizza and other quick-service restaurant (QSR) brands in India. It is the master franchisee for Domino's in the country and is among the largest QSR operators in India by store count and revenues.
