Business

Jubilant Food Q1 results: Domino’s operator reports net profit of Rs 63 cr, beats estimates; sales jump 131%

MUMBAI: Domino’s operator reported a net profit Rs 62.6 crore for the quarter ended June compared with a net loss of Rs 72.6 crore in the previous quarter despite the impact of the second wave of Covid-19 infections.

Analysts expect the quick-service restaurant company to report a net profit of Rs 48.6 crore for the quarter.

The company’s operating revenue rose 131% in the quarter to Rs 879 as the localization closure did not affect the business the way the national lockdown did in the previous quarter.

“Q1” FY22 was one of the most difficult quarters with the sudden onset of the second wave of the pandemic,” the company said.

The company also reported earnings before interest, tax, depreciation and amortization of Rs 211.5 crore for the quarter due to operating losses. Jubilant Foodworks said its EBITDA margin for the quarter was 24.1%.

In terms of same-store sales growth, the company reported 114.2 percent growth in the quarter compared to negative growth in the previous quarter.

During the quarter, Jubilant food added 20 new Domino stores, three new stores Dunkin Donuts stores and six restaurants under its new joint venture.

“Disciplined control of costs has resulted in a healthy EBITDA margin. Our business model has emerged stronger post-pandemic and we are optimistically looking ahead, confident of delivering exceptional growth and transforming into a powerhouse in food technology.” Pratik Pota, managing director and full-time director at Jubilant Foodworks said.

On Tuesday, shares of Jubilant Food ended 0.4% lower at Rs 3,072 on National Stock Exchange.

https://economictimes.indiatimes.com/markets/stocks/earnings/jubilant-food-q1-results-dominos-operator-reports-net-profit-of-rs-63-cr-beats-estimates-sales-jump-131/articleshow/84611048.cms | Jubilant Food Q1 results: Domino’s operator reports net profit of Rs 63 cr, beats estimates; sales jump 131%

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