Jubilant Foodworks, the master franchisee of Domino's Pizza in India, Bangladesh, Sri Lanka and Nepal, on July 28 reported a 63 percent year-on-year growth in consolidated profit at Rs 112.6 crore for the quarter ended June 2022, driven by a low base and strong revenue and operating performance.
While the year-ago quarter was affected by the second Covid wave, the sequential growth in the bottom line was 17.3 percent.
Jubilant said the profit in Q1FY23 included an exceptional item of a non-cash impairment charge of Rs 26.6 crore on investments made in the Sri Lankan subsidiary due to significant changes in the country's economic environment.
The company's consolidated revenue from operations for the June quarter was up 40.5 percent to Rs 1,255.10 crore from the year-ago quarter, and sequentially, the increase in the top line was 6.7 percent.
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The company said the increase in revenue was driven by like-for-like growth of 28.3 percent. "Dine-in and Takeaway channels combined witnessed strong sequential growth while momentum continued in the delivery channel," it said.
On the operating front, Jubilant registered a 43.3 percent year-on-year growth in EBTIDA at Rs 304.13 crore and the margin expanded by 47 bps YoY to 24.23 percent for the June FY23 quarter. EBITDA is earnings before interest, tax, depreciation and amortisation.
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The Domino's Pizza chain operator said it continued with its strong store opening momentum and opened 58 new stores taking the strength to 1,625 stores.
The company entered 12 new cities during the quarter, expanding its reach to 349 cities across India. The company also opened two new stores each for Popeyes and Hong’s Kitchen.
During the quarter, in Sri Lanka, the company registered system sales growth of 83 percent and opened one store, taking the total tally to 36. In Bangladesh, system sales growth was 49 percent and the store count increased by one to 10 stores.
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