Jubilant Foodworks Q2 net profit jumps 9.8% YoY to Rs 131.5 crore, revenue up 16%

Jubilant Foodworks, which holds the master franchise for Domino's Pizza operations in India, recorded a net profit of Rs 131.5 crore for the quarter ending September 2022, as per the consolidated financial results declared by the company on November 8.

The net profit climbed 9.8 percent as compared to the year-ago period when it stood at Rs 119.8 crore. The numbers were up sequentially as well, as the profit had come in at Rs 112.5 crore in the June 2022 quarter.

The company posted revenue from operations of Rs 1,301.5 crore in Q2 FY23, marking a 16.6 percent jump as compared to the revenue of Rs 1,116.2 crore clocked in the corresponding quarter of the last fiscal.

The earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter was up 8.4 percent at Rs 311.9 crore, as against Rs 287.6 crore reported in the year-ago period. The EBITDA margin came in at 24 percent, as compared to 25.8 percent in Q2 FY22.

Jubilant Foodworks, in a press release, noted that it opened 76 new Domino’s stores during the quarter, "taking the network strength for Domino’s in India to 1,701 stores". The company entered "22 new cities" during the three-month period, expanding its reach to a total of 371 cities across India, it added.

The pizza chain operator also recorded 90 lakh Domino's app downloads, the highest for a quarter, during the July-September period.

“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," Jubilant FoodWorks' CEO and MD Sameer Khetarpal said.

"Across brands, we continue to innovate on direct-to-consumer offerings – offering great value, a new range of pizzas, the convenience of ordering through our app and faster speed of delivery," the MD added.