Jubilant FoodWorks Q3 profit up 28% on Domino's Pizza, Dunkin' Donuts, Shyam, Hari Bhartia say 'foothold enhanced'
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Jubilant FoodWorks today reported 27.96 per cent jump in its standalone net profit at Rs 37.71 crore for the quarter (Q3) ended December 31.
The company had posted a net profit of Rs 29.47 crore in the corresponding period last fiscal, Jubilant FoodWorks Ltd (JFL) said in a filing to the BSE.
The total income during the third quarter also went up by 39.02 per cent to Rs 385.15 crore from Rs 277.04 crore in the year-ago period, it added.
Commenting on the numbers, JFL Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia said: "This quarter represents a step forward towards enhancing our foothold in the dynamic food service industry in India."
The company's both the brands -- Domino's Pizza and Dunkin' Donuts -- have maintained healthy growth, they added.
During the October-December period, JFL opened 37 new stores of Domino's Pizza, taking total number of outlets to 552. It also rolled out three new Dunkin' Donuts outlets.
"Our full year's target is to open a total of 120 stores of the two brands. We have already launched 95 outlets," JFL President and CFO Ravi Gupta said during a conference call.
JFL has plans to roll out 80-100 Dunkin' Donuts restaurants in India over the next five years.
Reacting to the numbers, shares of JFL were trading 5.04 per cent down at Rs 1,136.40 apiece on BSE during late afternoon.
Gupta said the company has earmarked a total capex of Rs 150 crore for 2012-13, out of which around Rs 130 crore have already been put in.
Talking about overseas markets, he said JFL will open six-seven stores in Sri Lanka, besides looking for partners in Bangladesh to introduce its brands there.
Gupta also said the company's fifth plant is coming up near Chandigarh.