Jubilant FoodWorks Limited (JFL) has reported its financial results for the quarter and nine-months ended December 31, 2018.
Operating revenue for Q3 FY19 stood at Rs 9,291 million, representing an increase of 16.8 percent over Q3 FY18, and a sequential growth of 5.4 percent over the preceding quarter. The growth was driven by a strong 14.6 percent same store growth (SSG) in Domino’s Pizza.
EBITDA for Q3FY19 was Rs 1,706 million, or 18.4 percent of revenue, a growth of 24.6 percent over Q3FY18 and a margin expansion of 120 bps. This is the highest EBITDA margin in seven years.
Profit after Tax in Q3 FY19 stood at Rs 965 million, or 10.4 percent of revenue, a growth of 46.2 percent over Q3 FY18 and a margin expansion of 210 bps.
During the quarter, the company added new products to its portfolio. Domino’s launched ‘Multigrain Crust’ with an objective of offering a wider range to the customers. In addition to this, the company also introduced four new side dishes viz. Potato Cheese Shots, Crunchy Strips, Crinkle Fries and Brownie Fantasy.
The store opening momentum accelerated during the quarter, with 35 new Domino’s stores being opened during the quarter.
Dunkin’ Donuts delivered break-even in Q3 FY19 on the back of strong growth in the core portfolio of Donuts and Beverages, as also disciplined cost management.
Commenting on the performance for Q3 FY19, Shyam S. Bhartia, Chairman and Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited said, “I am delighted to share that we have once again delivered healthy earnings growth during the quarter which stood in-line with our expectations. Performance was driven by consistent progress made across each of the growth pillars.”
Commenting on the performance for Q3 FY19, Pratik Pota, CEO and Whole time Director, Jubilant FoodWorks Limited said, “We have demonstrated strong all-round performance in Q3 FY19, led by robust same-store sales growth (SSSG) of 14.6 percent reported in Domino’s Pizza. This was accompanied by a tight control on operating costs that led to EBITDA margins improving to a seven year high of 18.4 percent. In addition, Dunkin’ Donuts also broke even during the quarter, ahead of the targeted Q4 timeline. We are happy with our performance and confident of the prospects ahead, as evident in the 35 new stores opened in Q3, the highest in eleven quarters.”