Jubilant FoodWorks net profit at Rs104cr in Q3FY20 29 Jan 2020 03:11 PM

Jubilant FoodWorks net profit at Rs104cr in Q3FY20 29 Jan 2020 03:11 PM
Jubilant FoodWorks Limited (JFL) posted a net profit at Rs104cr, which was up by 7.8% yoy in Q3FY20. The operating revenues for Q3FY20 stood at Rs1,059.6cr, a growth of 14.1% over Q3FY19.

EBITDA also came in higher by 37% at Rs255cr and margin at 24.1% in Q3FY20 vs. 18.3% in Q3FY19.

Like for Like (LFL) Sales growth for Domino’s Pizza stood at 7.2% for the quarter. Same-Store Growth (SSG) for Domino’s Pizza was 5.9%, on a high base of 14.6% last year.

Shyam S. Bhartia, Chairman and Hari S. Bhartia, CoChairman, Jubilant FoodWorks Limited said, “we have maintained strong growth momentum despite a slowdown in consumption trends. This was driven by our increased focus on the basics of the business while elevating the customer experience. We will continue to emphasize our key pillars of growth to deliver sustained growth going forward.”

Commenting on the performance for Q3FY20, Pratik Pota, CEO and Whole Time Director, Jubilant FoodWorks Limited said, “We are pleased with the quarter’s performance. Faced with a challenging demand environment and unprecedented inflationary commodity trends, we delivered strong revenue growth of 14.1% and a sequential improvement in EBITDA margins. Underlining our belief in the potential of the Indian Food Service market, we stepped up the pace of new store expansion, opening 47 new stores during the quarter.”

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 sequential improvement in operating margins. The store opening momentum further accelerated during the quarter. 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, the company added.

Stock view:
Jubilant Foodworks Ltd is currently trading at Rs1,757.25, up by Rs2.7 or 0.15% from its previous closing of Rs1,754.55 on the BSE.p

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