Jubilant FoodWorks Ltd, a master franchise of brands such as Domino's and Dunkin' Donuts, on Friday, said the company is postponing the completion deadline to restructure overseas arms to June 2024 from June 2023.

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"...please be informed that the proposed internal restructuring of certain overseas subsidiaries of the company is now likely to be

completed on or before June 30, 2024, due to certain regulatory requirements," the company said in an exchange filing.

The company reported a 70 percent decline in consolidated net profit at Rs 28.54 crore in the March quarter, because of higher expenses and raw materials costs. The company had posted a consolidated net profit of Rs 96 crore in the year-ago period, Jubilant FoodWorks said in a regulatory filing.

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Consolidated revenue from operations in the fourth quarter was at Rs 1,269.85 crore as against Rs 1,175.97 crore in the year-ago period, it added. Total expenses were higher at Rs 1,205.15 crore as compared with Rs 1,038.27 crore in the corresponding period a year ago, the company said.

The cost of raw materials consumed in the quarter was Rs 290.96 crore, up from Rs 254.96 crore in the same period of FY22. For the fiscal ended March 31, 2023, consolidated net profit was at Rs 353.03 crore from Rs 418.09 crore in the previous year, down 15.56 percent. In FY23, consolidated revenue from operations was at Rs 5,158.25 crore as compared to Rs 4,396.12 crore in FY22.

The company holds exclusive master franchise rights from Domino's Pizza Inc for India, Sri Lanka, Bangladesh, and Nepal, besides exclusive rights to develop and operate Dunkin' restaurants in India and Popeyes restaurants in India, Bangladesh, Nepal, and Bhutan.

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Shares of Jubilant FoodWorks Ltd ended at Rs 501.15, up by Rs 7.10, or 1.44 percent on the BSE.