Brands
Bombay Dyeing threads profit through tough quarter
Q3 net at Rs 1.83 crore on Rs 324.02 crore revenue.
MUMBAI: The fabric may have thinned, but the stitch still holds. The Bombay Dyeing and Manufacturing Company Ltd reported a standalone net profit of Rs 1.83 crore for the quarter ended December 31, 2025, a sharp turnaround from a loss of Rs 9.92 crore in the preceding September quarter. However, profit remained below the Rs 70 crore clocked in the corresponding quarter last year.
Revenue from operations for the December quarter stood at Rs 324.02 crore, compared with Rs 362.63 crore in the September quarter and Rs 414.81 crore a year earlier. Including other income of Rs 26.60 crore, total income came in at Rs 350.62 crore, down from Rs 453.62 crore in the year ago period.
For the nine months ended December 31, 2025, revenue from operations stood at Rs 1,064.49 crore against Rs 1,246.41 crore in the previous year. Net profit for the nine month period rose to Rs 5.67 crore, compared with Rs 478.35 crore in the corresponding period last year, reflecting the absence of large exceptional gains seen earlier.
The quarter’s profit before tax stood at Rs 3.02 crore for the nine month period and Rs 588 crore for the comparable nine month period last year, driven by exceptional items of Rs 552.70 crore in FY25. In the December quarter this year, exceptional items were marginal at negative Rs 0.90 crore, compared with Rs 50.71 crore in the year ago quarter.
Total expenses for the December quarter were Rs 362.43 crore. Cost of materials consumed stood at Rs 204.10 crore, while other expenses were Rs 73.91 crore. Finance costs were contained at Rs 2.62 crore, down from Rs 3.61 crore in the September quarter and Rs 3.30 crore a year earlier.
Segment wise, the Polyester business remained the mainstay, contributing Rs 305.93 crore in quarterly revenue, compared with Rs 395.99 crore a year ago. Retail and Textile delivered Rs 14.83 crore, while Real Estate revenue was negligible in the quarter, against Rs 3.15 crore in the corresponding period last year.
Segment results before tax and finance costs showed Polyester reporting a loss of Rs 26.34 crore in the quarter, versus a profit of Rs 22.47 crore last year. Retail and Textile posted a profit of Rs 2.94 crore, while Real Estate recorded a loss of Rs 5.05 crore.
On a consolidated basis, the numbers mirrored the standalone performance. Consolidated net profit for the quarter stood at Rs 1.92 crore, against a loss of Rs 9.85 crore in the preceding quarter and a profit of Rs 70.06 crore a year ago.
Other comprehensive income for the quarter was Rs 22.53 crore, largely due to fair value changes in equity investments. Total comprehensive income for the period stood at Rs 12.61 crore on a standalone basis and Rs 12.68 crore on a consolidated basis.
As of December 31, 2025, total segment assets were Rs 2,894.42 crore on a standalone basis, with net capital employed at Rs 2,348.98 crore. Paid up equity share capital remained at Rs 41.31 crore, with earnings per share for the quarter at Rs 0.09, compared with Rs 3.39 in the corresponding quarter last year.
With revenue under pressure and polyester margins fluctuating, Bombay Dyeing’s latest numbers reflect a business navigating cyclical headwinds. The profit may be modest, but after the previous quarter’s loss, the company has at least managed to keep its weave intact.
Brands
Dunkin’ Donuts to exit India as Jubilant FoodWorks ends 15-year franchise deal
The quick service restaurant giant is ending a 15-year franchise partnership with the American doughnut chain, even as it renews its Domino’s agreement for another 15 years
NOIDA: Dunkin’ is done in India. Jubilant FoodWorks Ltd, the country’s leading quick service restaurant operator, has decided not to renew its franchise agreement with the American coffee and doughnut chain, and will wind down its Indian stores in a phased manner before December 31, 2026, bringing a 15-year partnership to a quiet, loss-laden close.
The decision, approved by JFL’s board on March 30, 2026, ends a relationship that began with a Multiple Unit Development Franchise Agreement signed on February 24, 2011. JFL will now evaluate and undertake what it described in a regulatory filing as the “rationalisation and/or cessation of certain operations and/or sale, transfer or disposal of assets and/or assignment or transfer of franchise rights,” all in consultation with Dunkin’s brand owners and strictly within the terms of the original agreement.
The numbers tell the story bluntly. In the financial year 2024-25, Dunkin’ India posted a revenue of Rs 37 crore against a loss of Rs 19 crore — a haemorrhage that was always going to test the patience of a parent company recording revenues of Rs 6,104 crore and a profit of Rs 194 crore in the same period. Doughnuts, it turns out, were never going to move the needle.
The contrast with JFL’s handling of its other marquee franchise could hardly be sharper. Even as it walks away from Dunkin’, the company has just doubled down on Domino’s, signing a fresh Master Franchise Agreement on March 31, 2026, granting it exclusive rights to develop and operate Domino’s Pizza stores in India for 15 years, with an option to renew for a further 10.
JFL, incorporated in 1995 and promoted by the Bharatia family, operates a network of more than 3,500 stores across six markets — India, Turkey, Bangladesh, Sri Lanka, Azerbaijan and Georgia. Its portfolio includes Domino’s and Popeyes on the global side, and two home-grown brands: Hong’s Kitchen and COFFY, a café brand in Turkey.
For Dunkin’, India was always a stretch. The brand never quite cracked the cultural code in a market where filter coffee and chai command fierce loyalty and where the doughnut remains, at best, an occasional indulgence rather than a daily habit. Fifteen years, mounting losses and a parent with better things to spend its capital on was always going to be a difficult equation to solve.
The doughnut has had its last day. The pizza, however, is staying.
