Jubilant Foodworks’ Q4 profit plunges 76%; same store sales growth at -7.5%

Jubilant Foodworks, the Indian operator of Domino’s Pizza brand, saw a steep 75.9 percent fall in its Q4 net profit at Rs 6.7 crore against Rs 27.8 crore year on year. A one-time loss of Rs 12.2 crore hit the company’s financials.

The company’s revenue came in lower by around a percent at Rs 312.8 crore against Rs 618 crore.

Meanwhile, the earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 15.1 percent at Rs 60.5 crore against Rs 71.3 crore during the corresponding quarter last year. The margin came in at 9.9 percent against 11.5 percent YoY.

The company’s same store sales growth came in over negative 7 percent against a projected 4 percent growth by analysts polled by CNBC-TV18.

“We intensified our cost optimisation drive across all functions in the organization. In addition, we also sharpened our strategy to get growth back in the business. The key pillars of our strategy – which in many ways is about getting back to basics – will be delivering improved product quality, introducing powerful consumer-relevant innovations, improving our value for money offering, and upgrading our digital and technology interface,” Pratik Pota, CEO and Whole time Director, Jubilant FoodWorks Limited said in a statement to the exchanges.