Revenue from operations grew by 4.51% year on year to Rs 1,344.83 crore in the quarter ended 30 September 2023.

The company said that the increase in revenue was driven by Domino's Delivery channel sales which increased by 7.9%.

The average daily sales per store (ADS) of mature stores, came in at Rs 81,658, up by 1.4% sequentially. The Domino's Like-for-Like (LFL) stood at negative 1.3% in Q2 FY24 as compared to 8.4% registered in Q2 FY23. LFL sales growth refers to the year over year growth in sales for non-split restaurants opened before previous financial year.

Profit before tax dropped 40.55% to Rs 96.27 crore in Q2 FY24 from Rs 161.93 crore reported in the same period last year.

EBITDA in Q2 FY24 stood at Rs 280.7 crore, down 10.18% from Rs 312.5 crore posted in Q2 FY23. EBITDA margin reduced to 20.9% in Q2 FY24 as compared to 24.3% posted in the same period a year ago. Meanwhile, PAT margin decreased to 5.4% down by 390 bps in Q2 FY24.

During the quarter, the company opened 60 new stores in India, resulting in a network of 1,949 stores across all brands. With the addition of 50 new stores and entry in three new city, Domino's India expanded its network strength to 1,888 stores across 397 cities. The company opened five new restaurant for Popeyes and entered two new cities – Hyderabad and Madurai- taking the network tally to 22 restaurants across six cities.

In Hong's Kitchen, four new stores enhanced the network to 18 stores across three cities. In Dunkin', one new store was opened with entry in one new city. 11 out of 21 Dunkin' stores are now as per the brand's new coffee-first identity.

The company said that the steady improvement in consumers engagement with all time-high quarterly app downloads at 10.6 million, up by 17.8% and MAU (App) came in at 10.8 million.

In Bangladesh, system sales grew by 85.6% and the network expanded to 23 stores. In Sri Lanka, the system sales growth was 2%. Domino's in Sri Lanka became the fastest QSR within the country to scale to 50 stores.

Shyam S. Bhartia, chairman and Hari S. Bhartia, co-chairman of Jubilant FoodWorks said, “We are focused on pursuing growth, driving innovation and executing on opportunities to expand margins. Our investments in technology and delivery channel are paying off, as we registered positive like-for-like growth in the channel and traffic on the app grew ahead of our plan. We will continue to make investments in store expansion, technology and the team to stay ahead of the curve and ensure our continued long-term success.”

Sameer Khetarpal, CEO and MD of Jubilant FoodWorks commented, “The growth continues to be order led with elevated level of consumer engagement and the decline in ticket is also now arrested. Also, second consecutive quarter of sequential improvement in ADS of mature stores and gross margins are early indicators of structural improvement in the health of our business. Every single action being taken by us is not only helping us manage the shortterm challenge but will also ensure a very solid foundation for the long-term growth of our business.”

Jubilant FoodWorks (JFL) is India's largest foodservice company and is part of the Jubilant Bhartia group. Incorporated in 1995, JFL holds the exclusive master franchise rights from Domino's Pizza Inc. to develop and operate the Domino's Pizza brand in India, Sri Lanka, Bangladesh, and Nepal. In India, JFL has a strong and extensive network of 1,888 Domino's stores across 397 cities.