Jubilant FoodWorks Q3 net up 7.5% at Rs103.7 crore2 min read . Updated: 29 Jan 2020, 07:21 PM IST
- Standalone revenue from operations up 14.1% at Rs1,059.6 crore in the December quarter
- EBITDA stands at Rs253 crore, up 44% compared to the Rs176.2 crore in the year ago period
NEW DELHI : Jubilant FoodWorks Ltd that operates the Domino’s Pizza and Dunkin’ Donuts chain of restaurants on Wednesday reported a 7.5% jump in net profit at Rs103.7 crore for the third quarter of FY20, compared with the profit of Rs96.5 crore in the year ago period.
Standalone revenue from operations for the company was up 14.1% at Rs1,059.6 crore in the December quarter, the company said.
Same-store sales growth—that refers to the year-over-year growth in sales for restaurants opened before the previous financial year—was up 5.9%, although it softened from the high base of 14.6% in the year ago period. Like-for-like sales growth (that refers to the year-over-year growth in sales for non-split restaurants opened before previous financial year) came at 7.2% for the quarter.
For the quarter ended December 31, 2019, EBITDA stood at Rs253 crore, up 44% compared to the Rs176.2 crore posted in the year ago period.
"During the quarter, the business faced significant inflationary headwinds especially in dairy. However, the strong focus on driving operating efficiencies ensured that the business delivered a sequential improvement in operating margins," the company said in a media statement.
During the quarter, the company, that the exclusive rights to develop and operate Domino’s Pizza brand in India, Sri Lanka, Bangladesh and Nepal, opened a total of 47 stores; including 44 for Domino’s Pizza, 2 Dunkin’ Donuts and 1 of its recently launched Asian format Hong’s Kitchen. It shuttered 2 Domino's outlets during the quarter. In all, the company runs 1,325 Domino's outlets in 282 cities in India.
This was the highest store opening count in 20 quarters, the company said in its announcement to the stock exchange. Growth was driven by a strong performance in delivery, especially online sales. Online sales now contribute to 87% of delivery sales, the company added in a media statement.
“We have maintained strong growth momentum despite slowdown in consumption trends. This was driven by our increased focus on basics of the business, while elevating the customer experience. We will continue to emphasize on our key pillars of growth to deliver sustained growth going forward," said Shyam S. Bhartia, chairman, and Hari S. Bhartia, co-chairman, Jubilant FoodWorks Limited.
“Faced with a challenging demand environment and unprecedented inflationary commodity trends, we delivered a strong revenue growth of 14.1% and a sequential improvement in EBITDA margins," Pratik Pota, CEO and Whole time Director, Jubilant FoodWorks Limited said in a press statement announcing the company's earnings.
During the quarter, Domino’s Pizza opened its third store in Bangladesh.
The promoters of HT Media Ltd, which publishes Mint, and Jubilant FoodWorks are closely related. There are, however, no promoter cross-holdings.