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Published: October 26, 2023
Updated: October 26, 2023

Jubilant Foodworks Reports Q2FY24 Financial Results: Net Profit Declines YoY, Revenue Increases by 5%

Positive Growth Amidst Challenges

In its latest financial report for the second quarter of the current fiscal year (Q2FY24), Jubilant Foodworks Limited disclosed a consolidated net profit of Rs 97.202 crore. This figure reflects a 26.09% decrease compared to the corresponding quarter of the previous year when the net profit was Rs 131.53 crore. However, there's reason for optimism as the net profit has shown an impressive sequential increase of 236.14% when compared to Q1FY24, where the net profit was Rs 28.917 crore.

Revenue on the Rise

Jubilant Foodworks reported revenue from operations of Rs 1,368.6 crore for Q2FY24, showing a robust 5.15% growth when compared to the same quarter the previous year, where it was Rs 1,301.5 crore. On a quarter-on-quarter basis, the company also recorded a 2.55% increase, with revenue standing at Rs 1,334.5 crore in Q1FY24.

Total Income Shows Steady Improvement

The company's total income for Q2FY24 was Rs 1,375.7 crore, marking a 4.86% increase compared to the previous year when it was Rs 1,311.9 crore. Similarly, on a quarter-on- quarter basis, the total income showed a growth of 2.36%, with Q1FY24's total income standing at Rs 1,343.9 crore.

CEO's Positive Outlook

Jubilant Foodworks' CEO and Managing Director, Sameer Khetarpal, expressed his optimism about the company's performance. He noted that the growth remains steady, with high consumer engagement. Moreover, the decline in ticket sales has been halted. Khetarpal highlighted the second consecutive quarter of sequential improvement in Average Delivery Sales (ADS) of mature stores and improved gross margins as early signs of a structural improvement in the health of the business. He emphasized that every action taken is aimed at managing short-term challenges while establishing a solid foundation for long- term growth.

Expansion and Success in India

The company also announced the opening of 60 new stores in India during this quarter, bringing its total store count to 1,949. In addition, Domino's India channel revenue witnessed a 7.9% year-on-year growth.

Jubilant Foodworks Ltd's stock closed at Rs 527.3 at the end of this reporting period.

Jubilant Foodworks shows resilience in its Q2FY24 financial results with an impressive increase in revenue, despite a YoY dip in net profit. CEO Sameer Khetarpal highlights the positive trends and the company's commitment to long-term growth. The expansion of stores and increased revenue in India indicate promising prospects for the company.