Key Highlights : Encouraging 3% SSSG in 1H FY24 on a strong
base of last year
• Same Store Sales Growth (SSSG) in Q2 stood at 1% YoY despite the continuing weakness in consumer eating out trends and high base
• Share of consumer visits to McDonald’s and brand equity scores strengthens across West and South markets.
• On-Premise as well as Off-Premise business grew by 7% YoY. Off-Premise contribution remained stable at ~41% vs last year.
• Focus on Digital through Self ordering kiosks and Mobile Apps continues with Digital Sales contributing 67% to topline, up nearly 30 YoY.
EBITDA grows 7% YoY in 1H FY24. Margin was weighed by relatively lower operating leverage
Gross margins improved 93 bps YoY in Q2 led by better mix and cost saving initiatives. Input costs remained broadly stable.
Restaurant operating margins were lower by 58bps YoY as higher gross margin was offset by royalty and annual store payroll hikes.
Operating EBITDA margin was lower on account of higher G&A costs. However, on sequential basis G&A remained largely stable and is likely to track
the current run rate.
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