 "Jubilant Foodworks Q2 results: Net profit declines to Rs 66.53 crore")
Jubilant Foodworks Ltd on Monday reported a consolidated net profit of Rs 66.53 crore in the second quarter ended September 30, 2024.
The company, which operates popular fast food chains such as Domino's Pizza and Dunkin' among others in India, had posted a consolidated net profit of Rs 97.2 crore in the corresponding quarter of the last fiscal year, Jubilant Foodworks Ltd (JFL) said in a regulatory filing.
Revenue from operations in the second quarter stood at Rs 1,954.72 crore, as against Rs 1,368.63 crore in the year-ago period, the filing added.
Total expenses in the second quarter were at Rs 1,895.67 crore. It was at Rs 1,290.17 crore in the same quarter of the previous fiscal.
JFL said its consolidated financial results for the current periods are not comparable with that of previous periods as its wholly-owned subsidiary Jubilant Foodworks Netherlands B.V. had acquired controlling stake in DP Eurasia N.V. (DPEU) during the period ended March 31, 2024 and pursuant to which, the group has accounted for its investment in DPEU.
In a joint statement, JFL Chairman Shyam S Bhartia, and Co-Chairman Hari S Bhartia said the company sustained broad-based momentum in Q2 and grew the JFL network to 3,130 stores by adding 139 stores across brands and markets.
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Revenue from operations in India stood at Rs 1,466.9 crore, driven by 8.1 per cent growth in Domino's India. A total of 51 net stores were added across all brands in India, ending the period with 2,199 stores.
In the international market, revenue from operations was at Rs 460.5 crore although revenue from Domino's Bangladesh came in at Rs 12.6 crore, lower by 5.3 per cent on account of temporary store closures amidst a challenging operating environment. All stores are now operational, it added.