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Jul, 18 2017

Jubilant FoodWorks Q1 profit rises 26% to Rs 23.8 crore

Operating revenues for Q1 FY18 came in at Rs 6788 million, up 11.5% over Q1 FY17. This was driven by a robust Same Store Sales growth of 6.5% in Domino’s Pizza, the highest since Q1 FY16

Jubilant FoodWorks, which operates Dominos Pizza and Dunkin Donuts chains in India, has reported strong financial results for the first quarter ended 30June, 2017.

Operating revenues for Q1 FY18 came in at Rs 6788 million, up 11.5% over Q1 FY17. This was driven by a robust Same Store Sales growth of 6.5% in Domino’s Pizza, the highest since Q1 FY16. Overall Profitability also saw significant improvement with EBITDA for Q1 FY18 increasing by 38% to Rs 796 million. The Q1 FY18 EBITDA margin at 11.7% was the highest in the last 8 quarters.

The Profit after Tax in Q1 FY18 stood at Rs 238 million, an increase of 26% over the corresponding period last year. PAT also reflects the adverse impact of Rs 90 million on account of restaurants closure. PAT Margins at 3.5% were the highest since Q1 FY17.

Shyam S. Bhartia, Chairman and Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited said, "We are happy to report a strong, all-round Q1 FY18 performance. We took a number of actions in the quarter towards driving innovation, delivering value and controlling costs, and we are pleased to see that our disciplined focus on driving profitable growth has begun having the desired impact. The performance strengthens our confidence in the underlying growth potential of our brands and the ability of our business model to unleash it."

Pratik Pota, CEO & Whole time Director, Jubilant FoodWorks Limited said, "At the beginning of the quarter, we had unveiled our new strategy for driving profitable growth. Today I am pleased to share encouraging progress in the execution of the strategy as reflected in our strong Q1FY18 performance. Our focus on delivering better Value for money and driving innovation has helped bring back strong growth in Domino’s Pizza. We have also made significant progress towards reducing losses and building a sustainable business in Dunkin’ Donuts. Additionally, our discipline of controlling costs and driving efficiencies has helped improve overall operating margins. Going forward, we will continue to drive the strategic pillars of Product and Innovation, Value, Customer Experience, Technology and Cost Efficiencies."

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