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Jubilant FoodWorks' profit surges 56.4% to Rs 322.80 crore in FY19

Jubilant FoodWorks Q4 net profit climbs 8.6% to Rs 73.94 crore from Rs 68.06 crore in Q4FY18; revenues for Q4FY19 stood at Rs 865.20 crore,representing an growth of 10.9% over the same quarter last year

twitter-logo BusinessToday.In   New Delhi     Last Updated: May 15, 2019  | 17:27 IST
Jubilant FoodWorks' profit surges 56.4% to Rs 322.80 crore in FY19
Jubilant FoodWorks' board has recommended a dividend of Rs 5 (i.e. 50%) per equity share of Rs 10 each for the financial year 2018-19

Jubilant FoodWorks, owner of Domino's Pizza and Dunkin' Donuts, concluded the financial year 2018-19 on strong note, both in terms of growth and profitability, driven by same store sales growth which touched a seven year high. The Noida-based company has reported 56.4 per cent growth in net profit at Rs 322.80 crore as compared to Rs 206.40 crore in the last fiscal.

"Revenue from operation stood at Rs 3,530.66 crore in FY19 as compared to Rs 2,980.44 crore in FY18, registering a y-o-y growth of 18.5 per cent," Jubilant FoodWorks said in a filing to the Bombay Stock Exchange on Wednesday.

The operating profit (EBITDA) climbed 36.2 per cent y-o-y at Rs 607.80 crore, while operating margin stood at 17.2 per cent, up by 220 bps.

Domino's Pizza Same Store Sales Growth (SSG) stood at 16.4 per cent in FY19 versus 13.9 per cent in FY18, the company said in the exchange filing.

During January-March quarter, profit after tax increased to Rs 73.94 crore from Rs 68.06 crore, posting a growth of 8.6 per cent on the yearly basis. Operating revenues for Q4FY19 stood at Rs 865.20 crore, representing an growth of 10.9 per cent over the same quarter last year.

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"The revenue growth was driven by Same Store growth (SSG) of 6 per cent and new stores opened during the year in Domino's Pizza," the company said.

Earnings before interest, tax, depreciation and amortization (EBITDA) for the March quarter was up 15.5 per cent over Q4 FY18 at Rs 147.60 crore. EBITDA margin grew by 70 bps to 17.1 per cent.

Commenting on the financial performance, Pratik Pota, CEO and Whole time Director, Jubilant FoodWorks said, "Lapping our strongest quarter from last year, we delivered a robust revenue growth of 10.9% in Q4. We closed the year with revenue growth of 18.5% for FY19, driven by a 7-year high same-store sales growth (SSSG) of 16.4%. We are confident that Domino's will continue to drive strong growth in the year ahead."

"This quarter also marked our entry into the Chinese Fast Casual segment as also into the Bangladesh market with the launch of our first Domino?s Pizza restaurant in Dhaka. I am delighted to share that both of these are off to strong starts and should be significant growth drivers for us in the future," he added.

During the March quarter, Jubilant FoodWorks ventured into Chinese Fast Casual segment with its first home-grown brand 'Hong's Kitchen'. Hong's Kitchen opened its first restaurant in Gurugram.

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Domino's Pizza opened 30 new stores in India and also opened its first restaurant in Dhaka, Bangladesh in March quarter. "The store got off to a strong start and broke the global Domino's record for the highest number of orders for its first week and the first month of operations," it said.

The company's board has recommended a dividend of Rs 5 (i.e. 50%) per equity share of Rs 10 each for the financial year 2018-19 subject to requisite approval.

Boosted by strong earnings, shares of Jubilant FoodWorks ended trade at Rs 1,243.20 apiece, up 3.32 per cent, against previous closing level of Rs 1,203.20 on the Bombay Stock Exchange.

Edited by Chitranjan Kumar

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