Jubilant Foodworks Q2 net up 58%

Our Bureau New Delhi | Updated on October 20, 2021

Opens 60 new outlets during the period

Jubilant Foodworks Ltd’s consolidated net profit surged 58.11 per cent to ₹119.82 crore in the quarter ended September 30, from ₹75.78 crore in the corresponding quarter of the previous fiscal. For the first quarter ended June 30, the company had recorded a net profit of ₹69.06 crore.

The company operates restaurants under various brands such as Domino’s Pizza and Dunkin’ Donuts. Revenue from operations in the second quarter stood at ₹1,116.19 crore, up 36.7 per cent.

Pratik Pota, CEO and Wholetime Director, Jubilant Foodworks Ltd, said in a statement, “We are pleased with our strong performance in Q2 FY22. Notwithstanding the operating challenges and inflationary headwinds, we delivered a robust topline growth, strong EBITDA margins and record new store openings. We are excited about the future and believe that we have the right strategy to lead growth in the exciting period that lies ahead.”

The food services company said it opened 60 new outlets in the second quarter. This includes 55 Domino’s restaurants, two stores each of Dunkin’ and Hong’s Kitchen and one store of Ekdum!.

‘Strong all-round performance’

In the joint statement, Shyam S Bhartia, Chairman, and Hari S Bhartia, Co-Chairman, Jubilant Foodworks Ltd said,“Q2 FY22 saw a strong all-round performance with revenue, profitability and store growth numbers hitting record highs. The new investments announced during the quarter will help steer the company towards its goal of becoming a multi-brand, multi-country business driven by technology and will create significant value for all stakeholders.”

The company said it made key strategic investments during the quarter. “A reverse bookbuild process was launched to enhance the company’s indirect shareholding in DP Eurasia NV, the fifth largest master franchisee of Domino’s Pizza. Additionally, JFL also initiated the process of enhancing its shareholding in Jubilant Golden Harvest Limited, Bangladesh to 90 per cent, to strengthen its presence in the fast-growing and critical market of Bangladesh,” the statement added.

Published on October 20, 2021

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