Jubilant Foodworks Q2 results: Net profit declines 26% to Rs 97.20 crore, revenue up 5% to Rs 1,368.63 crore

Jubilant Foodworks Ltd (JFL), which operates fast-food chains like Domino's Pizza and Dunkin' Donuts, on Wednesday reported a 26.1 per cent decline in its consolidated net profit to Rs 97.20 crore in the second quarter ended on September 2023.

The company had posted a consolidated net profit of Rs 131.53 crore in the July-September quarter of the previous fiscal, Jubilant Foodworks Ltd (JFL) said in a regulatory filing.

Its revenue from operations during the quarter increased 5.15 per cent to Rs 1,368.63 crore against Rs 1,301.48 crore in the year-ago period, it added. JFL's total expenses during the September quarter stood at Rs 1,290.16 crore, up 11.8 per cent.

In the September quarter, the total income of JFL, India's largest food service company, rose 4.86 per cent to Rs 1,375.69 crore. During the quarter, JFL opened 60 new stores in India, taking its total store count to 1,949 across all brands.

It opened 50 new stores of its flagship QSR chain Domino's, entering three new cities. With this Domino's network expands to 1,888 stores across 397 cities, said an earning statement from JFL.

JFL Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia said: "We are focused on pursuing growth, driving innovation and executing on opportunities to expand margins. Our investments in technology and delivery channel are paying off, as we registered positive like-for-like growth in the channel and traffic on the app grew ahead of our plan.”

The master franchiser opened five new restaurants for US Fried Chicken brand Popeyes, taking the tally to 22 restaurants, it added. In Hong's Kitchen, four new stores were added, taking the total count to 18 stores Shares of Jubilant Foodworks on Wednesday settled at Rs 528.40 on BSE, up 0.60 per cent.

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