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Jul, 26 2018

Jubilant FoodWorks raises threefold Q1 net profit to Rs 74.67 cr

The growth was on the back of a strong same-store-growth of 25.9% in Domino’s Pizza, the company said during its earnings announcement.

Jubilant FoodWorks reported a three-fold jump in net profit to Rs 74.67 crore in the first quarter of the financial year 2018-19 ending June 30 as compared to Rs 23.84 crore the company posted during the same period last year.

Operating revenue for first quarter of the fiscal year 2019 jumped 26 percent to Rs 855 crore. The operator of Dominos Pizza and Dunkin' Donuts reported operating revenue of Rs 678 crore during the corresponding period last year.

The growth was on the back of a strong same-store-growth of 25.9% in Domino’s Pizza, the company said during its earnings announcement.

“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," said Shyam S. Bhartia, Chairman, and Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks.

According to the company, the strong performance in Q1 FY19 was on account of a good response to the Every Day Value offer on Regular Pizzas launched in March 2018, and which was supported aggressively during the IPL T20 cricket season.

“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,” said Pratik Pota, CEO and Whole-time Director, Jubilant FoodWorks.

During the quarter under review, the company opened 13 new Domino's Pizza outlets and closed three stores. The company also opened one new Dunkin' Donuts outlet during the quarter.

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