Jubilant FoodWorks announces 12.1% in Q2 revenue growth

Jubilant FoodWorks quarterly results

The Company opened 40 new Domino’s stores during the quarter, highest in the last 15 quarters.

Jubilant FoodWorks Limited (JFL) today reported strong financial results for the quarterand half year ended 30thSeptember, 2019.

Highlights:

• Operating Revenue at Rs.9,882 million, growth of 12.1%.
• Domino’s Like-for-Like (LFL) Sales growth at 6.5%, Same Store Growth (SSG) at 4.9%, on a base of 20.5% last year.
• EBITDA at Rs.2,350 million; EBITDA Margin at 23.8%.
• Profit After Tax at Rs.759 million; Normalized PAT(before One-time Tax Charge and Exceptional Item) at Rs.961 million; Normalized PAT margin at 9.7%
• Domino’s Pizza – 40 stores opened, highest in 15 quarters

Operating Revenues for Q2 FY20 stood at Rs.9,882 million, a growth of 12.1% over Q2FY19. Like for Like (LFL) Sales growth for Domino’s Pizza stood at 6.5% for the quarter (i.e. sales growth of stores that were not spilt this FY and PY). Same Store Growth (SSG) for Domino’s Pizza was 4.9%, lapping a high base of 20.5% last year.

EBITDA for Q2 FY20stoodat Rs.2,350 million at23.8% of revenue. Profit after Tax in Q2 FY20 was at Rs.759 million, and Normalized PAT(before One-time Tax Charge and Exceptional Item)was Rs.961 million, a normalized margin of 9.7%

The Company opened 40 new Domino’s stores during the quarter, highest in the last 15 quarters, taking the total store count up to 1,283 stores across 276 cities. All these stores were based on the new store design.

Domino’s Pizza Bangladesh continues to perform very well. The company opened another store in Bangladesh.

Commenting on the performance for Q2 FY20, Shyam S. Bhartia, Chairman and Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks Limited said “In the face of a challenging external environment, we are glad to report that our strategy of offering value for money and superior customer experience has resulted in a strong, double digit revenue growth, along with a sequential improvement in margins.We believe that the Indian Food Services industry is structurally attractive and we have the right strategy and levers in place to help us drive profitable growth.”

Commenting on the performance for Q2FY20, Pratik Pota, CEO and Whole time Director, Jubilant FoodWorks Limited said “We delivered a strong performance in Q2 FY20 with a revenue growth of 12.1% and a sequential improvement in margins. We stepped up the pace on network expansion, opening 40 new Domino’s Pizza stores during the quarter, the highest in the last 15 quarters. Other emerging growth drivers such as Bangladesh and Hong’s Kitchen also recorded a strong performance.”