Domino's owner Jubilant's Q4 profit gallops by 10 times
New Delhi: Jubilant FoodWorks on Tuesday said its standalone net profit has zoomed over 10- fold to Rs 68.06 crore for the March quarter mainly on account of Domino's product upgrade and robust online sales.
The company had posted a net profit of Rs 6.71 crore for the corresponding period of the previous fiscal, Jubilant FoodWorks said in a filing to BSE.
Its total income rose to Rs 792.55 crore for the January-March quarter of 2017-18, as against Rs 616.35 crore in the year-ago period.
"The strong performance in Q4 of FY18 was driven by the success of All New Domino's product upgrade rolled out in August and the traction of the Every Day Value pricing that provides customers attractive value for money," Jubilant FoodWorks said.
In addition, strong growth in online sales also contributed to overall growth, with online sales now contributing to 63 per cent of delivery sales, it added.
For the entire financial year ended March 2018, the net profit of the company rose to Rs 206.40 crore. It was Rs 67.25 crore in 2016-17.
Its total income for the fiscal year ended March 2018 was at Rs 3,003.16 crore as against Rs 2,560.55 crore in the preceding year.
"FY18 has been a year of transformation for JFL. At the start of the year, we identified and articulated a new strategy for growth, and we are pleased to see that this translated into strong growth through the year, including in Q4," Jubilant FoodWorks Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia and Co-Chairman Hari S Bhartia said jointly in a statement.
In addition, the company's sharp focus and control on costs as also its progress in reducing Dunkin' Donuts losses led to a healthy increase in profitability, they added.
In a separate filing the company said its board has recommended bonus shares to the holders of equity shares of the company in the proportion of 1:1.
The board has also recommended dividend of Rs 5 per equity share of Rs 10 each for the financial year ended March 31, 2018. Upon approval of issuance of bonus shares, the dividend payout post bonus will work out to be Rs 2.5 per equity share of Rs 10 each.