Jubilant FoodWorks Q2 Results: Profit slides 39% YoY to Rs 72 crore, misses estimate
Jubilant FoodWorks, which owns Domino's pizza franchises in India and a few other countries, on Wednesday reported a 39.5% year-on-year (YoY) decline in standalone profit at Rs 72.1 crore for the quarter ended September. It was Rs 119.2 crore in the year-ago period.
The profit was below the ET Now Poll estimate of Rs 84 crore. Its profit after tax (PAT) margin declined by 38 bps sequentially to 5.4% while its EBITDA margin came in at 20.9%, lower by 23 bps sequentially.
During the quarter, the pizza seller reported a 4.5% YoY rise in its revenue from operations to Rs 1,344.8 crore as compared to Rs 1,286.8 crore in the year-ago period.
The growth was driven by Domino’s delivery channel sales, which increased by 7.9%. The average daily sales of mature stores came in at Rs 81,658, up by 1.4% sequentially. Domino's LFL came in at -1.3%.
«Our investments in technology and delivery channel are paying off, as we registered positive like-for-like growth in the channel, and traffic on the app grew ahead of our plan.
We will continue to make investments in store expansion, technology, and the team to stay ahead of the curve and ensure our continued long-term success,» said Shyam S. Bhartia, Chairman, and Hari S. Bhartia, Co-Chairman of Jubilant FoodWorks, said.
The company opened 60 new stores in India, resulting in a network of 1,949 stores across all brands.
