Jubilant FoodWorks Limited (JFL) has reported its financial results for the quarter and year ended March 31, 2018.
Operating revenues for Q4 FY18 stood strong at Rs 7,798 million, representing a growth of 27.3 percent over Q4 FY17. This was driven by a strong 26.5 percent same store growth (SSG) in Domino’s Pizza.
Overall profitability also improved with EBITDA for Q4 FY18 coming in at Rs 1,278 million at 16.4 percent of revenue and a growth of 111.1 percent over Q4 FY17. Profit after tax in Q4 stood at Rs 681 million at 8.7 pecent of revenue, more than a ten-fold increase over Q4 FY17.
For the full year FY 2017-18, operating revenue stood at Rs 29,804 million, up by 17.1 percent over last year, driven by a full year same store growth of 13.9 percent in Domino’s Pizza.
Profitability increased strongly with FY18 EBITDA at Rs 4,464 million at 15.0 percent of revenue, a growth of 81.0 percent over FY17. FY18 Profit after tax stood at Rs 2,064 million at 6.9 percent of revenue, a growth of 206.9 percent over FY17.
The strong performance in Q4 FY 18 was driven by the continued success of all new Domino’s product upgrade rolled out in August and the traction of the every day value pricing that provides customers attractive value for money. In addition, strong growth in online sales also contributed to overall growth, with online sales now contributing to 63 percent of delivery sales.
Commenting on the performance for Q4 FY18, Shyam S. Bhartia, Chairman and Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited said, “FY18 has been a year of transformation for JFL. At the start of the year, we identified and articulated a new strategy for growth, and we are pleased to see that this translated into strong growth through the year, including in Q4. In addition, our sharp focus and control on costs as also our progress in reducing Dunkin’ Donuts losses led to a healthy increase in profitability. We will continue to execute on our strategy in the new financial year and are confident that will translate into sustained and profitable growth in our business.”
Commenting on the performance for Q4 FY18, Pratik Pota, CEO and Whole time Director, Jubilant FoodWorks Limited said, “We are pleased with our performance in Q4 FY 18. Our key strategic initiatives undertaken in the past one year such as the launch of all new Domino’s, every day value and sharp focus on digital sales drove strong growth for us, leading to a six-year high of 26.5 percent SSG for Domino’s Pizza in the quarter. In Dunkin’ Donuts, we halved our losses in line with our stated commitment through a focus on donuts and beverages and shutting of unprofitable stores. Going forward, we will remain focused on the strategic pillars of product quality and innovation, value-for-money, seamless customer experience and digital technology and are confident that these will help us deliver robust growth.”