Jubilant FoodWorks Limited, India’s largest foodservice company, on Tuesday announced its financial results for the quarter ended June 30, 2023, the company announced through an exchange filing.
Revenue
The revenue from operations of ₹13,097 million increased 5.6 percent versus the prior year. The growth was driven by Domino’s Delivery channel sales which increased by 8.4 percent. The ADS of mature stores, came in at ₹81,049, up by 2.7 percent sequentially. The Domino’s LFL came in at -1.3 percent.
New stores
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The Company opened 30 new stores in India, resulting in a network of 1,891 stores across all brands. With the addition of 23 new stores and entry in one new city, Domino’s India expanded its network strength to 1,838 stores across 394 cities. The Company opened four new restaurant for Popeyes and entered two new cities – Manipal and Coimbatore - taking the network tally to 17 restaurants across four cities. In Hong’s Kitchen, two new stores enhanced the network to 15 stores across three cities. In Dunkin’, one new coffee-first store was opened.
“Our performance reflects our continuation of the strategic direction we have opted for in the current inflationary environment. We continue to bolster our value proposition further, look inwards to improvise our systems and processes while expanding margins and finally continue to make investments further to strengthen our unique competitive advantages in operations and technology,” said Shyam S. Bhartia, Chairman and Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited.
Sales Growth in Sri Lanka and Bangladesh
In Sri Lanka, the system sales growth was 13.1 percent and the Company opened two new stores taking the network strength to 50 stores. In Bangladesh, system sales grew by 69.6 percent and the network expanded to 20 stores.
Jubilant Foodworks Shares
The shares of Jubilant Foodworks on Tuesday at 3:21 pm IST were at ₹475.65, up by 1.85 percent.
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