Jubilant FoodWorks Profit Surges As Same-Store Sales Growth Hits Six-Year High
Jubilant FoodWorks Ltd.’s quarterly profit surged more than ninefold beating analyst estimates on higher same-store sales growth.
Net profit jumped to Rs 68 crore in the March-ended quarter from Rs 6.7 crore a year ago, the operator of Domino’s Pizza and Dunkin’ Donuts chains in India said in an exchange filing today. That’s higher than Rs 54 crore consensus estimate of analysts tracked by Bloomberg.
Revenue increased 27.3 percent from the year-ago period to Rs 779.8 crore. The company’s other income rose to Rs 12.7 crore from Rs 3.5 crore. Same-store sales of the Domino’s pizza chain grew 26.5 percent in the fourth quarter, the highest in six years.
Our key strategic initiatives undertaken in the past one year such as the launch of All New Domino’s Every Day Value and a sharp focus on digital sales drove strong growth for us.Pratik Pota, Chief Executive Officer & Whole-Time Director, Jubilant FoodWorks
Jubilant FoodWorks halved its losses in Dunkin’ Donuts as it continued to focus on products and shutting down unprofitable stores.
Operating income of the Noida-based company doubled to Rs 127.8 crore, while the margin expanded to 16.4 percent from 9.9 percent a year ago.
Shares of the company fell as much as 2 percent after the results were announced while the benchmark Nifty 50 traded almost unchanged.