Jubilant Foodworks, the parent company of popular food chain Domino's Pizza, declared the financial results for the April to June quarter on July 25. During the quarter under review, the consolidated profit of Jubilant Foodworks declined 74.3% to ₹28.91 crore as against ₹112.58 crore in the same period under review. The company’s revenue from operations in Q1 of FY24 stood at ₹133.45 crore, up by 6.3%, as against ₹125.50 crore in the same period last year driven by Domino’s Delivery channel sales which increased by 8.4%.

The total income of Jubilant Foodworks, however, climbed 6.17% year-on-year to ₹134.38 crore, as against ₹126.57 crore in the same period last year. The total expenses of the company stood at ₹124.87 crore, surging by 13.01% as against ₹110.49 crore in the same period last year.

On a sequential basis, the profit of Jubilant Foodworks rose marginally by 1.3% as against ₹28.5 crore in the January to March period of FY23. The company’s EBITDA (earnings before interest, tax, depreciation and amortization) stood at ₹276.4 crore, and its EBITDA margin was 21.1% higher by 97 bps (basis points), sequentially.

During the quarter under review, the company opened 30 new stores in India, resulting in a network of 1,891 stores across all brands. The Company opened four new restaurants for Popeyes and entered two new cities – Manipal and Coimbatore - taking the network tally to 17 restaurants across four cities.

According to the company, the enrolment to the loyalty program – Domino's Cheesy Rewards – grew by 23.5% to 16.8 million as against the prior quarter and the loyalty order contribution reached 48% in June 2023. During the quarter under review, the company witnessed 10 million app downloads, up by 22.0% year-on-year. The monthly active users of Domino’s Pizza app stood at 10.3 million between the April and June period.

"Our strategy of customer first and technology forward has started to yield positive results. ADS for mature stores grew by 2.7% sequentially, a decline in ticket size was arrested, app installs and loyalty enrolments reached a new peak, and we executed efficiently to expand EBITDA margin by 97 bps versus the previous quarter. I remain confident in our strategies and the organization's ability to overcome the slower growth phase and emerge stronger out of it," says Sameer Khetrapal, CEO and MD, Jubilant Foodworks.

The shares of Jubilant Foodworks Ltd closed 2.23% higher at ₹477.10 on Tuesday. The scrip opened at ₹467.05 on Tuesday, as against the closing price of the previous session at ₹467.05. During the session, the market capitalisation of Jubilant Foodworks stood at ₹31,481.21 crore as more than 1.78 lakh shares exchanged hands against the two-week average of 0.49 lakh shares. In the past three months, the counter has given 5.9% in returns.

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Jubilant Foodworks' consolidated profit declines 74% YoY to ₹29 cr in Q1