Jubilant Foodworks Ltd's Q1FY19 Revenue Jumped By 26%
The strong performance in Q1 FY19 was on account of a good response to the Everyday Value offer on Regular Pizzas launched in March 2018, and which was supported aggressively during the IPL T20 cricket season.
JUBILANT FOODWORKS Limited reported a strong growth for Q1FY19. Operating revenue for the quarter jumped by 26 percent evaluating it to be Rs855.1cr, against an estimate of Rs810cr. EBITDA grew strongly by 78.5 percent yoy to Rs142.1cr, 18 percent higher than the estimate. The growth was on the back of a strong Same Store Growth (SSG) of 25.9 percent in Domino’s Pizza.
Led by decline in employees, rent and other expenses as percent of net sales, the EBITDA margin expanded by 489bps y-o-y to 16.6 percent. Deprecation was down by 20.9 percent y-o-y and other income jumped to Rs7.1cr (against Rs3cr in Q1FY18). Thus, PAT for the quarter stood at Rs74.7cr against Rs23.8cr in Q1FY18, 25 percent higher than the estimates.
The strong performance in Q1 FY19 was on account of a good response to the Everyday Value offer on Regular Pizzas launched in March 2018, and which was supported aggressively during the IPL T20 cricket season. In addition to this, the continued success of the All New Domino’s product upgrade launched last year also drove a strong growth in core pizza orders.
In addition, Dunkin’ Donuts made sustained progress towards its goal of breaking even with a slew of innovations that drove sales growth and which was accompanied by disciplined cost management.
During the quarter, the company opened 13 new Domino's Pizza outlets and closed three stores. The company also opened one new Dunkin' Donuts outlet.
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