Moneycontrol
Jul 18, 2017 07:43 AM IST | Source: Moneycontrol.com

Domino’s Pizza operator, Jubilant Foodworks posts 25% rise in Q1 profit; CFO quits

The company’s revenue from operations witnessed a rise of 11.5 percent to Rs 679 crore, while EBITDA came in at Rs 79.6 crore.

Moneycontrol News

Jubilant Foodworks’ net profit for the June quarter at Rs 24 crore beat the Street expectations, posting a rise of 25 percent year on year.

The operator of Domino’s Pizza brand in India, Nepal and Bangladesh was expected to post a profit of Rs 20.1 crore, according to a poll of analysts by CNBC-TV18.

The company’s revenue from operations witnessed a rise of 11.5 percent to Rs 679 crore against Rs 609 crore in the same period last year, while earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at Rs 79.6 crore, a rise of 37.8 percent from Rs 57.7 crore. The operating margin, meanwhile, came in at 11.7 percent against 9.5 percent year on year.

The same store sales growth, a key metric for gauging the progress of the company, was reported at 6.5 percent, a huge jump from its previous performance of -7.5 percent. Analysts had expected this figure to be between 3 and 4 percent.

"Our focus on delivering better Value for money and driving innovation has helped bring back strong growth in Domino’s Pizza. We have also made significant progress towards reducing losses and building a sustainable business in Dunkin’ Donuts. Additionally, our discipline of controlling costs and driving efficiencies has helped improve overall operating margins," Pratik Pota, CEO and Whole time Director, Jubilant FoodWorks said in a statement.

Furthermore, the company informed the exchanges that its Chief Financial Officer (CFO) and President has resigned from the firm. His last working day will be July 21, 2017, the statement from the company said.

Investors expected better times for the firm and hence aided the run up in the stock. In the past one month, the stock gained over 22 percent, while its three-day gain stood at 7 percent. At 13:54 hrs Jubilant Foodworks was quoting at Rs 1,240.40, up Rs 74.45, or 6.39 percent. It touched an intraday high of Rs 1,241.80 and an intraday low of Rs 1,161.30.

Source: BSE filing

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