Jubilant Foodworks Q4 Results FY2023, Profit at Rs. 675 million

On 17th May 2023, Jubilant FoodWorks announced its quarterly results for the last quarter of FY2023.

Jubilant FoodWorks Financial Highlights:

- For the fiscal year ended March 2023, Revenue from Operations of Rs. 50,960 million increased 17.7% YoY. Revenue from Operations for Q4FY23 was at Rs. 12,523 million increased by 8.2% YoY.
- For FY23,  EBITDA came in at Rs. 11,592 million, and the EBITDA margin was 22.7%. For Q4FY23, EBITDA came in at Rs. 2,522 million and EBITDA margin was 20.1%.
- For FY23, Profit after tax came in at Rs. 4,029 million and the PAT margin was 7.9%. For Q4FY23, Profit After Tax came in at Rs. 675 million and the PAT margin was 5.4%.

Jubilant FoodWorks Business Highlights:

- The Company opened 61 new stores in India. With the addition of 56 new stores and entry into six new cities, Domino’s has expanded its network strength to 1,816 stores across 393 cities. 
- The Company opened one new restaurant for Popeyes and Hong’s Kitchen, taking their network tally to 13 stores each. 
- In Dunkin’, three new coffee-first stores were opened. 8 out of 21 Dunkin’ stores are now as per the brand’s new Coffee-first identity.
- The enrolment to the loyalty program – Domino’s Cheesy Rewards – grew by 28.3% versus the prior quarter to 13.6 million and the loyalty order contribution reached 45% in March 2023. 
- Consumer engagement remains elevated with the quarterly app downloads at 8.5 million, up by 10.4%, and MAU at 11.1 million, up by 22.0% YoY.
- In Sri Lanka, the system sales growth was 14.1% and the Company opened one new store taking the network strength to 48 stores.
- In Bangladesh, system sales grew by 51.6% and the Company accelerated the pace of network expansion and opened record four new stores in a quarter taking the network to 17 stores.

Commenting on the results, Mr. Sameer Khetarpal, CEO and MD, of Jubilant FoodWorks Limited commented, “We are accelerating efforts to execute and deliver on the plans we’ve put into action to revert to high top-line growth while significantly improving all aspects of our cost structure. This quarter saw encouraging progress in registering order-led growth while limiting the impact of inflation on our gross margins through a series of well-timed interventions. As we step into the new fiscal year, we derive confidence from the strength of our brands, operational prowess, quality of innovation, and commitment of our people to navigate the business well in the current environment.”