Jubilant Foodworks Ltd. on 25 October reported a consolidated net profit of Rs 97.20 crore for the September quarter of FY24, down 26 percent from Rs 131.52 crore in the same quarter last year.
The total revenue of the company stood at Rs 13,68.63 crore, rising 5.15 percent from Rs 1,301.48 crore registered in the year-ago quarter, the company said in a regulatory filing.
“The growth continues to be order led with elevated level of consumer engagement and the decline in ticket is also now arrested. Also, second consecutive quarter of sequential improvement in ADS of mature stores and Gross Margins are early indicators of structural improvement in the health of our business." said Mr. Sameer Khetarpal, CEO and MD, Jubilant FoodWorks Limited in a press release.
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q2FY24 came in at Rs. 280.7 crore and the margin were 20.9 percent. The company's Q2 Same Store Sales Growth (SSSG) contracted by 1.3 percent versus 8.4 percent growth YoY.
Jubilant FoodWorks Limited recently expanded its store network. They inaugurated 60 new outlets across their various brands, leading to a total of 1,949 stores. Specifically, Domino’s India saw the addition of 50 stores and made its debut in three additional cities, bringing the total to 1,888 stores spread across 397 cities.
"Our investments in technology and delivery channel are paying off, as we registered positive like-for-like growth in the channel and traffic on the app grew ahead of our plan. We will continue to make investments in store expansion, technology and the team to stay ahead of the curve and ensure our continued long-term success.” said Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited.
The loyalty program of Domino's, called "Domino's Cheesy Rewards," now boasts a membership of 19.5 million. Notably, over half of the orders in September 2023 came from loyalty program members. The company also saw a record number of quarterly app downloads, with 10.6 million, a 17.8 percent increase. The monthly active users for the app were reported to be 10.8 million.
In Bangladesh, the company witnessed an impressive 85.6 percent growth in system sales and grew its network to 23 outlets. In contrast, Sri Lanka observed a system sales growth of just 2.0 percent. However, Domino’s in Sri Lanka achieved a significant milestone by becoming the quickest QSR in the nation to reach 50 stores.
Jubilant FoodWorks Limited is India’s largest foodservice company and is part of the Jubilant Bhartia Group. The company was incorporated in 1995 and holds the exclusive master franchise rights from Domino’s Pizza Inc. to develop and operate the Domino’s Pizza brand in India, Sri Lanka, Bangladesh and Nepal.
On October 25, shares of Jubilant closed at 0.47 percent higher at Rs 527.30 on NSE.
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