Jubilant Foodworks Q2FY24 result: Net profit at Rs 97 cr YoY; revenue up 5%

The consolidated net profit of Jubilant Foodworks Limited for the second quarter of the current financial year (Q2FY24) saw a fall of 26.09 per cent to Rs 97.202 crore, compared to Rs 131.53 crore for the corresponding quarter of the previous year, the company said in a BSE filing. Sequentially, the net profit was up 236.14 per cent. In Q1FY24, the net profit of the company was Rs 28.917 crore.

The revenue from operations for Q2FY24 came in at Rs 1,368.6 crore, compared to Rs 1,301.5 crore year-on-year (y-o-y), registering a rise of 5.15 per cent. On a quarter-on-quarter (q-o-q) basis, the revenue for operations was up 2.55 per cent. It stood at Rs 1,334.5 crore in Q1FY24.

The total income for Q2FY24 came in at Rs 1,375.7 crore, compared to Rs 1,311.9 crore y-o-y, registering a rise of 4.86 per cent. On a q-o-q basis, the total income was up 2.36 per cent. It was Rs 1,343.9 crore in Q1FY24.

Sameer Khetarpal, chief executive officer and managing director of Jubilant Foodworks said, "The growth continues to be orderly with elevated level of consumer engagement and the decline in ticket sales is also now arrested. Also, the second consecutive quarter of sequential improvement in ADS of mature stores and gross margins are early indicators of structural improvement in the health of our business. Every single action being taken by us is not only helping us manage the short-term challenge but will also ensure a very solid foundation for the long-term growth of our business."

In a press release, the company stated that it opened 60 new stores in India this quarter, taking its total store tally to 1,949. The Domino's India channel revenue grew by 7.9 per cent y-o-y.

The Jubilant Foodworks Ltd stock closed at Rs 527.3 on Wednesday.