On consolidated basis, Jubilant Foodwork's net profit rose 9.6% to Rs 101.8 crore in Q3 December 2019 as against Rs 92.91 crore reported in Q3 December 2018.
Consolidated revenue from operations rose 14.3% to Rs 1071.36 crore in Q3 December 2019 over Q3 December 2018. The result was announced during market hours today, 29 January 2020.Shares of Jubilant Foodworks turned volatile after Q3 result announcement. The stock ended 0.03% higher at Rs 1755 on BSE. The stock hit a high of Rs 1775 and a low of Rs 1719 in intraday trade.
Consolidated profit before tax (PBT) for Q3 December 2019 (Q3 FY20) stood at Rs 137.26 crore, down by 4.36% against Rs 143.52 crore reported in Q3 December 2018 (Q3 FY19). Tax expenses fell 30% to Rs 35.46 crore in Q3 FY20 from Rs 50.60 crore reported in Q3 FY19.
On a standalone basis, the company reported a 7.45% rise in net profit to Rs 103.69 crore on a 14.05% rise in revenue from operations to Rs 1059.60 crore in Q3 FY20 over Q3 FY19. EBITDA for Q3 FY20 stood at Rs 253.6 crore as against Rs 176.2 reported in Q3 FY19, registering a rise of 44%.
Same-store-sales growth stood at 5.9% in Q3 FY20 compared with 4.9% in Q2 September 2019 and 14.6% Q3 FY19.
Like for Like (LFL) sales growth for Domino's Pizza stood at 7.2% in Q3 FY20 as against 15.2% in Q3FY19.
Growth was driven by a strong performance in Delivery, especially Online sales. Online sales now contribute to 87% of Delivery sales. The Domino's App saw 4.1 million downloads during the quarter. The launch of the Masala Pizza range also helped drive sales during the quarter, with the performance of the innovation significantly exceeding internal targets.
During the quarter, the business faced significant inflationary headwinds especially in Dairy. However, the strong focus on driving operating efficiencies ensured that the business delivered a sequential improvement in operating margins.
A total of 47 stores were opened during the quarter - 44 for Domino's Pizza, 2 for Dunkin' Donuts and 1 for Hong's Kitchen. This was the highest store opening count in 20 quarters.
Commenting on the performance for Q3 FY20, Shyam S. Bhartia, Chairman, Jubilant FoodWorks said, We have maintained strong growth momentum despite slowdown in consumption trends. This was driven by our increased focus on basics of the business, while elevating the customer experience. We will continue to emphasize on our key pillars of growth to deliver sustained growth going forward.
Jubilant FoodWorks is part of Jubilant Bhartia group and is one of India's largest food service Company, with a network of 1,325 Domino's Pizza restaurants across 282 cities (as of 31 December 2019). The company has the exclusive rights to develop and operate Domino's Pizza brand in India, Sri Lanka, Bangladesh and Nepal.
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