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Jubilant FoodWorks Q1 net profit dips marginally to Rs 71.48 cr

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Jubilant FoodWorks Ltd, which operates fast-food chains Domino’s Pizza and Dunkin’ Donuts, on Wednesday reported a marginal decline in its consolidated net profit at Rs 71.48 crore for the first quarter ended June 30, 2019.

The company had posted a net profit of Rs 72.12 crore in April-June quarter a year-ago, Jubilant FoodWorks Ltd (JFL) said in a BSE filing. However, its revenue from operations was up 9.94 percent to Rs 949.11 crore during the quarter under review as against Rs 863.22 crore of the corresponding quarter last fiscal.

“This was driven by Same-Store Sales Growth (SSG) of 4.1 percent in Domino’s Pizza, on a strong base of 25.9 percent last year. Like for Like (LFL) sales growth i.e. sales growth of stores that were not split since April 1, 2018, came in higher at 5.8 percent,” JFL said in a statement.

JFL’s total expenses was at Rs 853.71 crore in the June quarter, as against Rs 760.36 crore, registering a growth of 12.27 percent.

Commenting on the results, Pratik Pota, CEO, JFL said:” Lapping one of our highest quarters ever from last year, we delivered near double-digit growth and strong EBITDA margins. Online sales continued to be strong and now contribute to 81 percent of delivery sale.”

During the quarter, JFL opened 26 new stores of Domino’s Pizza and closed four stores. The total store count of Domino’s Pizza stood at 1,249. As of June 30, 2019, JFL was operating 30 Dunkin’ Donuts restaurants across 10 cities in India.

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