New Delhi: Jubilant FoodWorks Ltd, which operates the Domino’s and Dunkin’ Donuts chain of pizza and coffee shops, respectively, in India on Wednesday reported a 8.7% jump in net profit to ₹73.94 crore for the fourth quarter of FY19, compared with a ₹68.06 crore profit in the year-ago period.
Revenue from operations rose 11% to ₹865.19 crore in the quarter ended 31 March, the company said in a filing to the stock exchanges.
Same-store sales growth, a measure of sales at stores that have been open for at least a year, at Domino’s Pizza was up 6%, on a higher base of 26.5% in the same quarter of the previous year. EBITDA for the quarter stood at ₹1,47.6 crore, with EBITDA margin at 17.1%, up 70 bps year-on-year.
During the quarter, the company announced the opening of Hong’s Kitchen, a fast casual Chinese dining brand that opened its first outlet in Gurugram. Hong’s Kitchen is the food services company’s first own restaurant brand and the third overall in its portfolio of brands. It also opened its first store in Bangladesh.
For the full year, the company reported a 56.4% jump in net profit to ₹322.8 crore. That corresponds to 9.1% of the revenue clocked by the company during the year.
“We are pleased with our results in FY19, it was one of our strongest years in recent times both in terms of growth and profitability. During the year, we also expanded our footprint into Bangladesh and entered the Chinese food category with our brand, ‘Hong’s Kitchen," Shyam S. Bhartia, chairman and Hari S. Bhartia, co-chairman, Jubilant FoodWorks, said in a statement.
The company reported a strong same store growth of 16.4% for Domino’s Pizza for the full year.
“Lapping our strongest quarter from last year, we delivered a robust revenue growth of 10.9% in Q4. We closed the year with revenue growth of 18.5% for FY19, driven by a 7-year high same-store sales growth (SSSG) of 16.4%," said Pratik Pota, CEO and whole time director, Jubilant FoodWorks Limited.
Last quarter, the company announced that it has achieved break-even for its coffee chain Dunkin’ Donuts, with the brand maintaining momentum in the fourth quarter. During the quarter, Domino’s opened 30 stores and shuttered three. In all, the company runs 1,258 restaurants across its Domino’s and Dunkin brands.
Shares of the company traded at ₹1,231.70, up 2.37% on the stock exchange at 2:20 pm, post the company’s earnings announcement.
The promoters of HT Media Ltd, which publishes Mint, and Jubilant FoodWorks are closely related. There are, however, no promoter cross-holdings.