Jubilant Foodworks Q2 Results FY2023, PAT at Rs. 1192 million

On 8th November 2022, Jubilant Foodworks announced its quarterly results for the second quarter of FY2023.
 

Q2FY23 Performance updates:

- Revenue from Operations of Rs. 12,868 million increased 16.9% versus the prior year. The increase in revenue was driven by Like-for-Like growth of 8.4% and healthy performance of new stores. Dine-in and Takeaway channels combined witnessed strong year-on-year growth while Delivery channel registered handsome growth on a high base.
- EBITDA of Rs. 3,125 million increased 9.2% versus the prior year. Despite significant cost headwinds, the EBITDA margin came in at 24.3%. 
- Profit After Tax came in at Rs. 1,192 million and PAT margin was 9.3%.

Business Highlights:

- The Company continued with its strong store opening momentum and opened 76 new Domino’s stores taking the network strength for Domino’s in India to 1,701 stores. 
- The Company entered 22 new cities during the quarter to expand its reach to 371 cities across India. 
- The Company also opened two new stores for Popeyes and one store for Dunkin’. 
- The Company worked with renowned chefs from the East India region and has launched its first dedicated menu innovation for the Eastern market. 
- The range consists of six new delectable pizzas inspired by the traditional flavours of East Indian cuisine – Kasundi, Kosha and Malai. This was followed by the launch of No Onion No Garlic range of four pizzas in Gujarat. 
- In Sri Lanka, the Company registered system sales growth of 37% during the quarter and opened 4 new stores taking the network strength to 40 stores.
- In Bangladesh, system sales grew by 42%. With the opening of 1 new outlet, the store count in Bangladesh has reached 11 stores.

Commenting on the Q2FY23 performance, Mr. Sameer Khetarpal, CEO and MD, Jubilant FoodWorks Limited said, “We delivered strong top-line growth supported by robust Like-for-Like growth in Domino’s led by our digital and physical footprint. Despite inflation, our performance on margins has been consistent and strong, driven by disciplined cost control and calibrated pricing actions in the past. Across brands, we continue to innovate on direct to consumer offerings – offering great value, new range of pizzas, convenience of ordering through our app and faster speed of delivery.”