Jubilant FoodWorks Q3 net profit up 46% to Rs 96.5 cr

Jubilant FoodWorks, the operator of Domino's Pizza and Dunkin' Donuts food chain, reported a year-0n-year jump of 46 percent in net profit to Rs 96.5 crore for the third quarter of the financial year 2018-19 ending December 31, 2018. The company had posted a net profit of Rs 66 crore during the corresponding period last year.

Revenue for the quarter stood at Rs 929 crore, an increase of 17 percent as compared to Rs 795 crore it posted during the same period last year, the company said in its earnings announcement.

During the quarter, the company added new products to its portfolio. Domino’s launched ‘Multigrain Crust’ with an objective of offering a wider range to the customers. In addition to this, it also introduced four new side dishes; Potato Cheese Shots, Crunchy Strips, Crinkle Fries and Brownie Fantasy.

The store opening momentum accelerated during the quarter, with 35 new Domino’s stores being launched. Dunkin’ Donuts delivered break-even in Q3 FY19 on the back of strong growth in the core portfolio of Donuts and Beverages, as also disciplined cost management, the company said.

“We have demonstrated strong all-round performance in Q3 FY19, led by robust same-store sales growth (SSSG) of 14.6% reported in Domino’s Pizza. This was accompanied by tight control of operating costs that led to EBITDA margins improving to a seven-year high of 18.4%. In addition, Dunkin’ Donuts also broke even during the quarter, ahead of the targeted Q4 timeline. We are happy with our performance and confident of the prospects ahead, as evident in the 35 new stores opened in Q3, the highest in eleven quarters," said Pratik Pota, CEO and Whole Time Director of Jubilant FoodWorks.

Jubilant FoodWorks is part of Jubilant Bhartia group and is one of India’s largest food service company, with a network of 1,200 Domino’s Pizza restaurants across 271 cities. The company and its subsidiary have the exclusive rights to develop and operate Domino’s Pizza brand in India, Sri Lanka, Bangladesh, and Nepal. At present, it operates in India and Sri Lanka. The company also has exclusive rights for developing and operating Dunkin’ Donuts restaurants for India and has 32 Dunkin’ Donuts restaurants across 10 cities in India.

Source:-https://retail.economictimes.indiatimes.com/news/food-entertainment/food-services/jubilant-foodworks-q3-net-profit-up-46-to-rs-96-5-cr/67755155