Jubilant Foodworks Q2 Results FY2024, Net profit at Rs.721 million

On 25th October 2023, Jubilant Foodworks announced its quarterly results.

Key Highlights:

- Revenue from Operations grew 4.5% YoY to Rs. 13,448 million. Domino's Delivery channel sales climbed by 7.9%, which propelled the expansion.
- The average daily sales were Rs. 81,658, a 1.4% increase over the previous quarter. At -1.3%, the Domino's LFL was recorded.
- EBITDA was reported at Rs. 2,807 million and EBITDA margin was 20.9%. 
- Profit After Tax stood at Rs. 721 million and PAT margin was 5.4%.

Business Highlights:
 

- A network of 1,949 stores across all brands was created by the company through the opening of 60 new locations in India. 
- Domino's India increased the number of locations in its network to 1,888 across 397 cities with the opening of 50 new locations and the addition of locations in three more cities.
- The company added five new Popeyes locations and expanded into two more cities, Hyderabad and Madurai, bringing the total number of locations in the network to 22 across six cities.
- With the addition of four more locations, Hong's Kitchen now has 18 locations spread throughout three cities. 
- With admission into a new city, a new Dunkin' Donuts location was opened. As of right now, 11 out of 21 outlets adhere to the brand's coffee-first identity.
- In September 2023, the loyalty order contribution for Domino's Cheesy Rewards surpassed 50% and 19.5 million people signed up for the program.
- With all-time high quarterly app downloads of 10.6 million, up 17.8%, and MAU(App) of 10.8 million, customer engagement is still at an elevated level.
- System sales increased by 85.6% in Bangladesh, and the network added 23 new locations. 
- The growth in system sales in Sri Lanka was 2.0%. In Sri Lanka, Domino's became the first QSR to reach 50 locations in the nation.

Commenting on the results, Mr. Sameer Khetarpal, CEO and MD, Jubilant FoodWorks Limited said: “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. Every single action being taken by us is not only helping us manage the shortterm challenge but will also ensure a very solid foundation for the long-term growth of our business.”