Jubilant Foodworks Q2 results: Net profit falls 26% to Rs 97 cr, revenue up 5%

Operators of Domino's India, Jubilant Foodworks Limited reported that its consolidated net profit for the second quarter of the current financial year (Q2 FY24) fell 26.09 per cent to Rs 97.20 crore, compared to Rs 131.53 crore for the corresponding quarter of the previous year. But sequentially, the net profit was up 236.14 per cent due to cheaper pizzas. In Q1 FY24, the net profit of the company was Rs 28.91 crore.

The revenue from operations for Q2 FY24 came in at Rs 1,368.6 crore, compared to Rs 1,301.5 crore year-on-year (y-o-y), registering a rise of 5.15 per cent. On a quarter-on-quarter (q-o-q) basis, the revenue for operations was up 2.55 per cent. It stood at Rs 1,334.5 crore in Q1FY24.

The earnings before Interest, tax, depreciation and amortization (EBITDA) in Q2 FY24 came in at Rs 280.7 crore and the margin was 20.9 per cent.

The total income for Q2 FY24 came in at Rs 1,375.7 crore, compared to Rs 1,311.9 crore y-o-y, registering a rise of 4.86 per cent. On a q-o-q basis, the total income was up 2.36 per cent. It was Rs 1,343.9 crore in Q1 FY24.

“The growth continues to be order led with elevated level of consumer engagement and the decline in ticket is also now arrested. Also, the 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.

On October 25, shares of Jubilant closed at Rs 527.30, up by 0.47 per cent on NSE.

The company expanded its store network. They inaugurated 60 new outlets across their various brands, leading to a total of 1,949 stores.

Incorporated in 1995, Jubilant FoodWorks Limited is India’s largest foodservice company and is part of the Jubilant Bhartia Group. It has got 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.

Earlier this year it was reported that Jubilant FoodWorks is preparing to launch Domino’s Pizza on the government’s Open Network for Digital Commerce (ONDC) platform.

Also read: Axis Bank Q2 results: Net profit rises 10% to Rs 5,864 cr, asset quality improves

Also read: Dalal Street crash: Investors lose Rs 7.3 lakh crore amid selloff; key reasons behind the slide