Jubilant FoodWorks Q2 net profit up 3.82 per cent to Rs 75.77 cr

Revenue from operations declined 38.12 per cent to Rs 1,204.73 crore during April-September as against Rs 1,947.16 crore in the corresponding period last year. Shares of Jubilant FoodWorks Ltd on Thursday closed 0.36 per cent higher at Rs 2,338.85 on the BSE..

New Delhi, Nov 12 (PTI) Jubilant FoodWorks Ltd on Thursday reported a 3.82 per cent increase in consolidated net profit at Rs 75.77 crore for the second quarter ended September 2020 on improvement in margins. The company, which operates fast-food chains Domino's Pizza and Dunkin' Donuts, had posted a net profit of Rs 72.98 crore in July-September quarter a year ago, Jubilant FoodWorks Ltd (JFL) said in a BSE filing.

However, revenue from operations declined 18.20 per cent to Rs 816.33 crore during the quarter under review as against Rs 998.05 crore in the corresponding quarter last fiscal. JFL's total expenses fell 16.08 per cent to Rs 747.01 crore as against Rs 890.21 crore in the year-ago quarter.

Commenting on the results JFL Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia said, "Revenues recovered substantially and margins improved compared to last year, underlining the inherent resilience and strength of our business model." According to the company, its liquidity position has "further strengthened" during the quarter and its total "cash and cash equivalents, bank deposits and investments increased to Rs 827.8 crore as on September 2020". During the quarter, JFL opened 10 new restaurants of Domino's Pizza, adding 2 cities in its network, and closed 100 stores.

The company was operating a total of 1,264 Domino's Pizza stores across 281 cities as of September 30, 2020. "Overall system sales for Domino's recovered to 82.3 per cent of last year's level," JFL said in a statement.

The company opened 1 restaurant of Dunkin' Donuts during the quarter and closed 5, taking the number of restaurant under operations to 26 as of September 30. JFL said its sales momentum continued in October with revenues "recovering to 96.2 per cent of last year, driven by delivery growing by 16.3 per cent and takeaway by 64.3 per cent".

JFL CEO and Wholetime Director Pratik Pota said, "Our strong recovery continued in Q2FY21 with overall revenues recovering to 82.3 per cent of last year, driven by delivery and takeaway channels growing over last year. Our EBITDA margins increased by 290 bps year-on-year and PAT margins increased by 180 bps year-on-year." For April-September, JFL reported a net profit of Rs 1.30 crore as against a net profit of Rs 144.46 crore in the corresponding period of 2019-20. Revenue from operations declined 38.12 per cent to Rs 1,204.73 crore during April-September as against Rs 1,947.16 crore in the corresponding period last year.

Shares of Jubilant FoodWorks Ltd on Thursday closed 0.36 per cent higher at Rs 2,338.85 on the BSE..