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Jubilant Foodworks Q4 PAT drops 58% to Rs 32.5 cr

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On a consolidated basis, Jubilant FoodWorks reported a 58% drop in net profit to Rs 32.53 crore on 4.1% rise in net sales to Rs 908.75 crore in Q4 March 2020 over Q4 March 2019.

Net profit was impacted after the company made an exceptional item for the quarter ending 31 March 2020 of Rs 12.39 crore. The company said exceptional item were related to expenses consequential of Covid-19 pandemic situation.

Consolidated EBITDA for Q4 March 2020 stood at Rs 169.5 crore, which is 18.9% of revenue. The company said EBITDA was impacted due to lower revenues, and inflationary trends in food ingredients which were partially offset by increased productivity. Consolidated EBITDA margin stood at 18.9% in Q4 March 2020.

Domino's Same-store-sales growth (SSG) which refers to the year-over-year growth in sales for restaurants opened before previous financial year stood at -3.4% in Q4 March 2020 compared with 6% posted in the same period last year.

Like for Like (LFL) sales growth for Domino's Pizza stood at -2.3% in Q4 March 2020 as against 7.4% in Q4 March 2019.

Commenting on the performance for Q4FY20 and FY20, Pratik Pota, CEO and Wholetime Director, Jubilant FoodWorks said, Our strong run in Q4 was interrupted by the onset of Coronavirus and the consequent lockdown. Our response to the crisis has been swift and comprehensive. Our focus remained on ensuring employee and customer safety even as we moved to restore operations, cut costs and conserve cash. While the pandemic will alter consumer behaviour and disrupt the category, we believe that with our strong and trusted brand, proven quality and hygiene credentials, a robust delivery business and growing Digital capabilities, we are uniquely positioned to emerge stronger from it.

Jubilant FoodWorks' consolidated net profit declined 12.3% to Rs 278.8 crore on a 10.2% increase in net sales to Rs 3927.27 crore in the year ended March 2020 (FY20) over the the year ended March 2019 (FY19).

The company said that it has a strong cash position, a strong balance sheet and it continues to generate healthy free cash flow. As on 31 March 2020, the company had liquid funds equivalents to Rs. 691.4 crore in the form of Cash and Cash equivalents, bank deposits and investments. The Company doesn't have any debt. This has enhanced the Company's ability to meet the liquidity needs in the foreseeable future.

Shares of Jubilant FoodWorks were trading 3.97% higher at Rs 1584.85 on BSE. Jubilant FoodWorks is part of Jubilant Bhartia group which owns and operates Domino's Pizza and Dunkin Donuts.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 21 2020. 09:28 IST