Food services major Jubilant FoodWorks today reported a 11.52 per cent rise in net profit at Rs 32.71 crore for the quarter ended March 31,2013,mainly on account of an increase in number of Domino’s Pizza stores.
The company had posted a net profit of Rs 29.33 crore in the corresponding period of the previous fiscal.
Net sales rose to Rs 365.75 crore for the quarter under consideration from Rs 282.95 crore in the same period a year ago,the company said in a statement.
It is planning to continue expansion plans and expand its Domino’s Pizza network by launching 125 new stores in FY 2014. Jubilant FoodWorks also plans to open 18 new Dunkin’ Donuts restaurants during the fiscal.
Net profit of the company for the fiscal year ended March 31,2013 stood at Rs 135.10 crore against Rs 105.64 crore in the previous fiscal.
Net sales of the company also rose to Rs 1,407.31 crore for the year ended March 31,2013 against Rs 1,017.11 crore in the year before.
Commenting on the performance,Jubilant FoodWorks Chairman Shyam S Bhartia said: “We ended the fiscal on a positive note,in a scenario which was impacted by contracting economic activity at a macro level and restrained consumer spending.”
Network expansion continued on a sustained basis for Domino’s Pizza as well as Dunkin’ Donuts,he added.
“We continued to invest in our business to support the future growth with infrastructure like our 5th commissary (in Mohali-Chandigarh),” Bhartia said.
The company has continued its expansion plans in Q4 of FY13 and also in the entire fiscal year.
“We opened 24 new stores in Q4 FY2013,taking our total store count to 576 as on March 31,2013. As a result,Domino’s Pizza which spreads across 123 cities remains the company’s primary growth engine,” Jubilant FoodWorks CEO Ajay Kaul said.
As part of its expansion plans for FY 2014,the company is looking at increasing the number of its Domino’s Pizza stores and Dunkin’ Donuts restaurants. It also plans to open new commissaries across India.
“We will be investing around Rs 150 crore to open 125 new Domino’s Pizza stores and 18 new Dunkin’ Donuts restaurants in FY 14,” Kaul said.
The company will invest between Rs 70 to Rs 75 crore for opening four new commissaries across the country,he added.
Shares of Jubilant FoodWorks today closed at Rs 1,018.80 per scrip on BSE,down 7.40 per cent from its previous close.