Jubilant FoodWorks PAT up by 60.2% at INR 777 million

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.

Performance Snapshot – Q2 FY19

  • Operating Revenue at Rs.8,814 million, up by 21.3%
  • Same Store Sales Growth (SSG) for Domino’s at 20.5%
  • EBITDA at Rs.1,475 million, higher by 44.4%; EBITDA Margin at 16.7%, up by 260 bps
  • Profit After Tax at Rs.777 million, up by 60.2%; PAT Margin at 8.8%, up by 210 bps

Key Highlights – Q2 FY19

  • Continued strong response to Every Day Value on Regular Pizzas.
  • New Domino’s App launched in Q1 FY19 driving app downloads and revenue from digital channel.
  • Domino’s Pizza – 24 Stores opened, 1 Store closed, Total store count at 1167.
  • Dunkin’ Donuts – 0 Stores opened, 5 Stores closed, Total store count at 32.

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

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.

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.

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.

In particular, the new Domino’s App introduced during Q1 FY19 has been liked and received strong user ratings. Features like Easy Location Selection, Automatic Re-ordering, Train Ordering, Advance Ordering and hassle free payments have been well received. Online sales were up to 68% of Delivery Sales in the quarter, with 1.7Mn downloads of the new App, the highest ever.

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.

Commenting on the performance for Q2 FY19, 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. ”

Commenting on the performance for Q2 FY19, 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.”

Note: 1. Figures have been rounded off for the purpose of reporting.

2. All financial data in this presentation is derived from reviewed standalone IND-AS financial statements.

3. The financials of Dunkin’ Donuts have been included in the results & related financial discussion.