Jubilant Foodworks (JFL) on August 9 reported a consolidated net profit of Rs 55.8 crore for the June quarter, registering a jump of 93 percent from Rs 28.9 crore in the same quarter of the previous financial year.
The company's net sales stood at Rs 1,933 crore, rising 45 percent from Rs 1,334.5 crore in the year-ago quarter, the company said in a regulatory filing.
Earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter was at Rs 3,83 crore, growing by 23.4 percent. EBITDA margins have improved by 85 bps YoY to 19.8 percent.
JFL opened 34 new Domino’s stores and added 52 net stores in India across all brands
Jubilant FoodWorks chairman Shyam S Bhartia and co-chairman Hari S Bhartia said, "India business growth in particular, accelerated with a sharpened value for money focus in Domino’s, through delivery fee waiver well supported by continued network expansion. We remain
on track to become India’s first foodservice company to cross $1 billion in group system sales.”
They also shared that the company achieved Q1 results, with broad-based growth across markets led by healthy LFL and store growth. We also celebrated network milestones of crossing 3,000 stores at a group level and setting a new record of operating over 2,000 Domino’s stores in India.
Domino’s India like-for-like (LFL) growth reported at three percent driven by delivery LFL growth of 12 percent. JFL India's segment revenue growth was reported at 9.9 percent, while Domino’s grew by 8.5 percent on order growth of 16 percent.
Delivery channel revenue was up by 15.7 percent, driven by delivery LFL growth of 12.1 percent Y0Y. "Order-led growth partially offset by decline in ticket on account of delivery fee waiver; The decline in ticket was partially offset by introduction of packaging charges," the company stated in the investor presentation.
Dine-in channel revenue declined by 5.7 percent YoY.
International Business
Domino’s Bangladesh revenue was at Rs 17 crore, up by 42.2 percent on the back of accelerated network expansion—10 net store additions in last one year.
In Turkey, Azerbaijan and Georgia revenue for DP Eurasia (DPEU), franchisee of Domino's Pizza, came in at Rs 4,61 crore (up by 15.4 percent YoY) with operating EBITDA of 25 percent and PAT margin of 9.2 percent. In the region, 33 net stores were added in the last year.
Domino’s Sri Lanka revenue came in at Rs 17.4 crore, up by 17 percent. The company onboarded two new aggregators – Uber Eats and Pick Me.
Despite record-high inflation, Domino’s Turkey LFL growth came in at 10 percent.
Sameer Khetarpal, CEO and MD of Jubilant FoodWorks Limited, believes it was "indeed a ‘milestone quarter’.
"JFL delivered a strong quarter with growth across all business lines, expansion in the store network and improvement in margin trajectory. The quality of growth stands out, as it is order-led, monthly active users were at a record high and the company acquired new customers at the highest-ever rate, beating the industry trend, thus, indicating the belief in our core strategy of being customer first and data-and-technology-forward,” he added.
Domino’s India, COFFY Turkey and Popeyes India crosses 2,000, 100 and 50 store mark respectively
Meanwhile, shares of Jubilant Foodworks on August 8 closed at a decline of 11.1 percent at Rs 597.05 apiece on BSE ahead of the earnings.
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