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Business News/ Companies / Company Results/  Jubilant FoodWorks Q1 results: Net profit comes in at 29 crore; revenue rises to 1,334.5 crore
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Jubilant FoodWorks Q1 results: Net profit comes in at ₹29 crore; revenue rises to ₹1,334.5 crore

On a standalone basis, Jubilant FoodWorks’ revenue from operations registered a growth of 5.6% YoY at ₹1,309.7 crore.

Jubilant Foodworks opened 30 new stores in India, resulting in a network of 1,891 stores across all brands.Premium
Jubilant Foodworks opened 30 new stores in India, resulting in a network of 1,891 stores across all brands.

Jubilant FoodWorks, the Domino’s Pizza chain operator in India, reported a consolidated net profit of 28.9 crore in the first quarter of FY24. The company had posted a net profit of 112.6 crore in the corresponding quarter of previous fiscal.

The company’s consolidated revenue in Q1FY24 increased 1.7% to 1,334.5 crore from 1,312 crore, YoY.

On a standalone basis, the company’s revenue from operations registered a growth of 5.6% YoY at 1,309.7 crore. The growth was driven by Domino’s Delivery channel sales which increased by 8.4%. The ADS of mature stores, came in at 81,049, up by 2.7% sequentially. Domino's Like-for-Like (LFL) Growth came in at -1.3%, the company said in a release.

Its standalone net profit came in at 75.2 crore and net profit margin was 5.7%, higher by 195 bps sequentially.

Also Read: Asian Paints Q1 results: Net profit jumps 52% to 1,575 crore; revenue growth at 6.6% YoY

“Our strategy of customer first and technology forward has started to yield positive results. ADS for mature stores grew by 2.7% sequentially, decline in ticket size was arrested, app-installs, loyalty enrolments reached a new peak, and we executed efficiently to expand EBITDA margin by 97 bps versus the previous quarter," said Sameer Khetarpal, CEO and MD, Jubilant FoodWorks.

At the operational level, earnings before interest, taxes, depreciation and amortization (EBITDA) during the quarter rose marginally to 275.8 crore from 275 crore in the year-ago quarter. EBITDA margin was at 20.7% from 21% YoY.

“In a challenging inflationary environment with key input costs holding firm, the company was able to expand its operating margins sequentially on account of higher productivity led-cost optimization initiatives," Jubilant FoodWorks said.

Also Read: Bajaj Auto Q1 Results: Net profit rises 42% on year to 1,664.77 crore

The company opened 30 new stores in India, resulting in a network of 1,891 stores across all brands.

With the addition of 23 new stores and entry in one new city, Domino’s India expanded its network strength to 1,838 stores across 394 cities. 

The company opened four new restaurants for Popeyes and entered two new cities – Manipal and Coimbatore - taking the network tally to 17 restaurants across four cities. 

In Hong’s Kitchen, two new stores enhanced the network to 15 stores across three cities. In Dunkin’, one new coffee-first store was opened. 9 out of 21 Dunkin’ stores are now as per the brand’s new Coffee-first identity.

Jubilant FoodWorks is India’s largest foodservice company 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.

Jubilant FoodWorks share price rallied after the announcement of Q1 results. At 2:50 pm, shares were trading 2.70% higher at 479.30 apiece on the BSE.

Read all Q1 results here

Disclaimer: The promoters of HT Media Ltd, which publishes Mint, and Jubilant Foodworks are closely related. There are, however, no promoter cross-holdings.

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Published: 25 Jul 2023, 02:59 PM IST
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