Jubilant FoodWorks' Q1 operating revenues see a growth of 9.9%

Jubilant FoodWorks Limited (JFL) has reported its financial results for the quarter ended 30th June 2019. Operating Revenues for Q1 FY20 stood at Rs 9401 million, a growth of 9.9% over Q1FY19.

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

EBITDA for Q1 FY20 stood at Rs 2191 million, at 23.3% of revenue. Q1 saw a significant increase in advertising and promotional spends as also continued investments in technology.

Profit after tax in Q1 FY20 came in at Rs 748 million, at 8.0% of revenue.

There were 26 new Domino’s stores opened during the quarter, taking the total store count up to 1,249 across 276 cities.

Shyam S Bhartia, Chairman, and Hari S Bhartia, Co-Chairman, Jubilant FoodWorks Limited, said, “We have started the year on an encouraging note. Domino’s has been a very strong brand franchise and our strategic focus remains on brand building and innovation through high-quality products, continued value for money, improved customer experience, and an omnipresent network. Our recent launch in Bangladesh and our entry in Chinese food category through ‘Hong’s Kitchen’ have received an overwhelming response from our customers and should be long term growth drivers in the future.”

Pratik Pota, CEO and Whole time Director, Jubilant FoodWorks Limited, added, “We are pleased with the first quarter’s performance. 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% of delivery sales. Our mobile app saw record downloads during the quarter. We are excited by the opportunities that lie ahead and are confident that we have the right strategy to drive sustainable growth and create value.”