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Oct, 25 2018

Jubilant FoodWorks Q2 profit rises 60% to Rs 777 million

The strong performance in Q2 FY19 was a result of continued momentum driven by strategic initiatives taken during the recent past.

Jubilant FoodWorks Limited (JFL) has reported its financial results for the quarter and half year ended 30th September 2018.

EBITDA for Q2 FY19 came in at Rs 1,475 million at 16.7% of revenue, a growth of 44.4% over Q2 FY18. Profit after Tax in Q2 FY19 was at Rs.777 million at 8.8% of revenue and a growth of 60.2% over Q2 FY18.

Operating Revenues for Q2 FY19 were Rs 8,814 million, a growth of 21.3% over Q2 FY18 and a sequential growth of 3.1% over the previous quarter, driven by a strong Same Store Growth (SSG) of 20.5% in Domino’s Pizza.

The strong performance in Q2 FY19 was a result of continued momentum driven by strategic initiatives taken during the recent past such as the product upgrade All New Domino’s, Every Day Value (EDV) extension to regular pizza and the continued momentum of online sales driven by the new Domino’s app.

The company stepped up the store opening momentum during the quarter, with 24 new Domino’s stores being opened, the highest in the last seven quarters.

Dunkin’ Donuts too did well with strong growth driven by Donuts and Beverages; its losses more than halved over last year.

Shyam S. Bhartia, Chairman, and Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited, said, "We are pleased with our Q2 FY 19 performance. Strong growth momentum continues to be driven by successful execution of growth strategy outlined at the beginning of FY 2018."

Pratik Pota, CEO and Whole-time Director, Jubilant FoodWorks Limited, said, "Despite significantly increased competitive intensity, Q2FY19 was yet another strong quarter delivered by our continued focus on the basics. Growth was driven by a strong and sustained momentum in Delivery Orders. In particular, our Digital focus showed good results with strong online sales growth, enabled by the new Domino’s App garnering strong user ratings and having a slew of innovative and user-friendly features. Dunkin’ Donuts too delivered healthy growth and is moving towards profitability."

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