NEW DELHI, May 22
Jubilant Foodworks, which operates Domino’s restaurants in India, on Wednesday recorded more than seven fold jump in profit (627.1 per cent) at Rs 207.52 crore during the fourth quarter of FY24 in comparison to Rs 28.54 crore posted for the quarter ended March 31, 2023, beating estimates. It recorded revenue from operations at Rs 1572.80 crore, up 23.9 per cent as against Rs 1269.85 crore during the corresponding quarter of previous fiscal year. The company EBITDA stood at Rs 310.5 crore. According to a CNBC TV18 poll, Jubilant Foodworks was expected to record Q4 profit at Rs 44 crore and revenue for the quarter in review was estimated at Rs 1327 crore.
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The company recorded the highest ever quarterly network addition of 112 stores. The company said that Domino’s India LFL trajectory turned around by Q4. Further, Domino’s India registered record-high new customer acquisition growth with improvement in delivery under 20 minutes. It also stated that Popeyes continued to enter in new cities with 42 stores now in 15 cities.
For India business, revenue from operations was recorded at Rs 1331.30 crore, up 6.3 per cent mainly driven by 4.9 per cent growth in Domino’s India. Domino’s LFL came in at 0.1 per cent while the Domino’s Delivery LFL was 7.8 per cent. The new brands contributed 1.4 per cent to overall growth. A total of 89 stores were added across all brands in India.
For its international business, Jubilant Foodworks recorded revenue from operations of Rs 242.70 crore primarily driven by revenue contribution of two months at Rs 217.40 crore from Turkey, Azerbaijan and Georgia. Revenue from Domino’s Bangladesh came in at Rs 13.40 crore, up by 52.1 per cent on the back of accelerated network expansion. Revenue from Domino’s Sri Lanka came in at Rs 11.90 crore, up by 4.1 per cent. A total of 23 stores were added across all International markets.
For the full year, revenue from operations came in at Rs 5654.10 crore, up 9.6 per cent. The JFL Group network strength reached 2,991 stores with the opening of 356 net stores in the year. Gross Profit was Rs 4313.00 crore, up 10.3 per cent. Gross margin came in at 76.3 per cent
The company board has recommended a dividend of Rs 1.2 per equity share of face value of Rs 2 each for the financial year ended 31st March 2024 (amounting to Rs 792 million), subject to approval of shareholders at the Annual General Meeting.
Shyam S Bhartia, Chairman and Hari S Bhartia, Co-Chairman, Jubilant FoodWorks Limited, said, “FY24 was a year of significant shift as the acquisition of DP Eurasia elevates the profitable growth trajectory of the JFL Group. This acquisition further solidifies JFL’s long standing partnership with Domino’s, the world’s largest pizza company, to profitably grow high potential emerging markets.
The Group also made noteworthy progress during the year in supporting and nurturing new growth vectors, solidifying its position as one of the leading emerging markets’ foodservice company.”
