Jubilant Foodworks profit declines 1.4%

Its same store growth stood at 4.2% compared to 3.2% during the year-ago period

Net profit of Jubilant Foodworks, owner of Domino’s pizza franchise in India, declined 1.4 per cent to Rs 21.6 crore during the September quarter against Rs 21.9 crore in the year-ago period. Its net sales, however, surged 13.3 percent to Rs 665.4 crore from Rs 587.3 crore on year-on-year basis.
 
Higher cost of materials consumed led to fall in net profit during the quarter. Its material cost went up 21.4 per cent and total expenses surged 14.3 per cent, offsetting a double-digit sales growth. Its same store growth stood at 4.2 per cent compared to 3.2 per cent during the year-ago period. During the quarter, Jubilant has added 32 Domino’s outlets taking its total count to 1,085. It has closed five Dunkin’ Donuts restaurants to settle at 73.
 
“With our return on investment-centric approach towards expansion of restaurants for both our brands, we have successfully grown our network at a healthy pace. Today Domino’s Pizza is spread across 251 cities in the country with our network of restaurants, while Dunkin’ Donuts has reached 23 cities,” said Ajay Kaul, chief executive and whole-time director.