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The net profit of Jubilant Foodworks for the first quarter of the current financial year (Q1YFY24) saw a fall of 74 per cent to Rs 28.9 crore, compared to Rs 112.5 crore for the corresponding quarter of the previous year, the company said in a BSE filing.
Sequentially, the net profit stood at Rs 28.5 crore.
The revenue from operations for Q1FY24 came in at Rs 1,334.5 crore, compared to Rs 1,255 crore year-on-year (YoY). This is an increase of 6.3 per cent.
On quarter-on-quarter (QoQ) basis, the revenue for operations stood at Rs 1,289 crore.
The company's operational performance improved as earnings before interest tax, depreciation and amortisation (Ebitda) saw a fall to Rs 276.4 crore in Q1FY24, as compared to Rs 304.5 crore in the corresponding period of the previous year. Sequentially, the company's Ebidta stood at Rs 252.2 crore.
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The growth was driven by Domino’s delivery channel sales which increased by 8.4 per cent. The average daily sales of mature stores came in at Rs 81,049, up 2.7 per cent sequentially. Domino's LFL (like-for-like) growth declined by 1.3 per cent.
Sameer Khetarpal, CEO and MD, Jubilant Foodworks Limited, said that the ADS for mature stores grew by 2.7 per cent sequentially.
"I remain confident in our strategies and the organization's ability to overcome the slower growth phase and emerge stronger out of it,” he said.
Shyam S Bhartia, chairman, said, “We continue to bolster our value proposition further, look inwards to improvise our systems and processes while expanding margins and finally continue to make investments further to strengthen our unique competitive advantages in operations and technology.”
