Jubilant FoodWorks on Thursday announced that Chitrank Goel, Executive Vice President and Business Head of Dunkin and Senior Managerial Personnel (SMP) of the company, has resigned from the services of the company.
According to the stock exchange filing, Goel’s last working day would be April 15, 2025. The food service company, which is the master franchisee for Domino’s Pizza, along with Popeyes and Dunkin’, will be appointing Goel’s successor in due course.
“I am writing to inform you of my resignation from the position of Executive Vice President and Business Head, Dunkin and Senior Managerial Personnel (SMP) at Jubilant FoodWorks Ltd. in order to take an external opportunity,” Goel said in his resignation letter.
Goel joined Jubilant in 2021. His role involved Operations, Expansion, Brand strategy, Sourcing, Supply Planning, End to End Commercial Operations, Innovation & Digital platforms and Team Scale up across levels at Dunkin.
The company reported a 35 percent decline in quarterly profit as the company’s margins were dented by higher expenses amid store expansion and elevated food costs. The company’s Q3 profit stood at Rs 42.91 crore, down from a year-ago profit (FY24) of Rs 65.709 crore.
Jubilant launched value meals to increase footfall in its restaurants and rake in more orders via delivery apps. The company launched smaller pizzas priced at around Rs 80 and lunch combinations for less than Rs 160. It has also been waiving delivery fees on its app orders.
As of November last year, the company had not raised prices on its items for at least two years, despite cost inflation, to gain market share.
Jubilant FoodWorks’ revenue from operations rose about 56 percent to Rs 2,551 crore in Q3 FY25. The same-store sales increased 12.5 percent year-on-year. On the other hand, the average daily spend in older restaurants rose 12.5 percent to nearly Rs 86,000.
However, expenses surged 59.3 percent year-on-year fuelled by higher sequential store expansions and higher wage and food costs. Jubilant added 130 new stores in the third quarter compared to 73 net store additions in Q2. Of these, 67 were Domino’s stores.