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Jubilant FoodWorks Limited reports strong growth
Jubilant FoodWorks Limited on July 26 reported its financial results for the quarter ended June 30, 2018.
Operating revenues for Q1 FY19 stood strong at Rs 8551 million, representing a growth of 26.0% over Q1 FY18, and a sequential growth of 9.6% over the preceding quarter. The growth was on the back of a strong same store growth of 25.9% in Domino’s Pizza.
Overall profitability also improved, with EBITDA for Q1 FY19 coming in at Rs 1421 million at 16.6% of revenue, a growth of 78.5% over Q1 FY18. Profit after tax in Q1 FY19 stood at Rs 747 million at 8.7% of revenue and a growth of 213.2% over Q1 FY18.
The strong performance in Q1 FY19 was on account of a good response to the everyday value offer on regular pizzas launched in March 2018, and which was supported aggressively during the IPL T20 cricket season. In addition to this, the continued success of the all new Domino’s product upgrade launched last year also drove a strong growth in core pizza orders.
In addition, Dunkin’ Donuts made sustained progress towards its goal of breaking even with a slew of innovations that drove sales growth and which was accompanied by disciplined cost management.
Commenting on the performance for Q1 FY19, Shyam S Bhartia, chairman and Hari S Bhartia, co-chairman, Jubilant FoodWorks Limited said, “We are pleased to start the year on a strong note with our robust performance in Q1 FY19. The strong growth in Domino’s came on the back of a superior product, value for money delivery and growing digital contribution. This together with our focus on achieving break-even in Dunkin’ Donuts by the end of the financial year will continue to drive profitable growth for us.”
Commenting on the performance for Q1 FY19, Pratik Pota, CEO and whole time director, Jubilant FoodWorks Limited said, “We delivered a strong quarter in both Domino’s and Dunkin’ Donuts. In Domino’s, the extension of EDV to regular pizzas received a very good response with an increase in both new customer acquisition as well as existing customer frequency. Dunkin’ Donuts too saw encouraging growth and made good progress towards profitability on the back of successful innovations and disciplined cost management.”