For the financial year 2019-20, Operating Revenues stood at Rs. 38,858 million
The Board of Directors of Noida based Jubilant FoodWorks Limited has approved the financial results for the quarter and full year ended March 31, 2020.
Operating Revenues for Q4FY20 stood at Rs. 8,979 million, a growth of 3.8% over Q4FY19. The Company had a strong revenue performance until February ’20 with LFL growths in January ’20 being 8.4% (SSG 7.2%) and in February ’20 14.9% (SSG 13.1%).
In March ’20 however, there was a sharp drop in revenue due to COVID-19 pandemic and the consequent national lockdown, which impacted the overall quarter’s performance adversely.
For the financial year 2019-20, Operating Revenues stood at Rs. 38,858 million, up by 10.1% over FY19, driven by LFL of 4.5% and SSG of 3.2% in Domino’s Pizza.
Commenting on the performance for Q4FY20 and FY20, Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, CoChairman, Jubilant FoodWorks Limited said, “The Coronavirus has brought about a once-in-a-lifetime crisis to society and business in general, and the restaurant industry in particular. We have taken a number of immediate steps to mitigate the impact of the virus on our business in the short term. In the longer term, we remain positive on the opportunity in the QSR space. Our strong balance sheet and the strength of our business model will ensure that we contain the adverse effects of the virus and come out stronger”.
[Domino’s Like-for-Like (LFL); Same Store Growth (SSG)]