Jubilant Foodworks Ltd on Wednesday reported consolidated net profit of ₹69.06 crore for the first quarter ended June 30. The company had posted a net loss of ₹74.47 crore in the corresponding quarter in the previous fiscal.
The leading foodservices company operates restaurants under brands such as Domino’s Pizza and Dunkin’ Donuts, among others.
Revenue from operations on a consolidated basis soared to ₹893.18 crore in the first quarter from ₹388.41 crore in the corresponding quarter in the previous fiscal when the country faced disruptions due to the pandemic outbreak.
The company said higher revenue was driven by Domino's like-for-like sales growth of 120.4 per cent and same-store growth of 114.2 per cent.
"The growth in the delivery channel, which grew by 123.7 per cent, mitigated the impact on account of the dine-in channel being shut for a long time and mobility restrictions impacting the takeaway channel," it added.
During the quarter, the company said it opened 29 new stores despite the on-ground disruption caused by the second pandemic wave. “This includes 20 new Domino's stores and three new stores each for Hong's Kitchen, Ekdum! and Dunkin' Donuts,” it added
Commenting on the Q1 performance, Jubilant Foodworks Ltd Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia in a joint statement said the quarter was one of the most challenging quarters with the sudden onslaught of the second wave of the pandemic. “Given the severity of the situation, our most important priority during the quarter was to support our employees and their families. We are extremely proud of the manner in which the team came together to deliver a strong and resilient performance,” the joint statement added.