Sat. Mar 25th, 2023
Jubilant FoodWorks Q1FY23 Earnings: Net Profit Jumps 63% YoY, Revenue Increases By 41% On Strong Response To Dine-In, Takeway

Jubilant FoodWorks, master franchise for Domino’s Pizza and Dunkin’ Donuts on Thursday posted a 63.1 percent jump in consolidated net profit to Rs 112.58 crore in the April-June quarter, up from Rs 69.06 crore reported in the same quarter last year.

The food-chain company saw a rise of 40.51 percent in its revenue from operations to Rs 1,255.09 crore compared with Rs 893.18 crore, a year ago.

“The increase in revenue was driven by like-for-like growth of 28.3 percent. Dine-in and takeaway channels combined witnessed strong sequential growth, while momentum continued in the delivery channel,” said JFL in its earnings statement.

Domino’s Pizza owner reported total expenses of Rs 1,104.94 crore in the quarter-ended, up 35.65 percent from Rs 814.51 crore in the corresponding period a year ago.

In April-June, JFL opened 58 new restaurants for Domino’s Pizza, spreading across 12 new cities. The food service company operated 1,625 restaurants as of June 30, 2022, across 349 cities. The company shut the shutter of 3 restaurants of Dunkin’ Donuts, bringing down the tally to 25.

JFL opened two restaurants and shut down 6 restaurants of its new quick-service restaurant brands Hong’s Kitchen and Ekdum!, slashing the tally to 20 by the end of the quarter.

JFL has franchise rights for Popeyes, a big American chain of fried chicken fast food restaurants, for the Indian market. It has launched the American chain restaurants in two additional locations.

JFL chairman Shyam S Bhartia and co-chairman Hari S Bhartia said June quarter’s results were driven by strong demand, marking a rebound in dine-in consumption, and cost management at the time of high inflationary environment.

On the operating front, JFL registered 43.3 percent on-year growth in EBITDA (earnings before interest, tax, depreciation, and amortization) at Rs 304.13 crore and the margin expanded by 47 bps YoY to 24.23 percent.

By Harshita Sharma

I bring to you startup, stock market, economy, and business news. So, stay tuned!

Leave a Reply

Your email address will not be published. Required fields are marked *