Jubilant FoodWorks Q2 net doubles to Rs 48 cr; shares hit near 2-year high

Jubilant FoodWorks Limited (the Company) is a Jubilant Bhartia Group Company. Photo: Website

Jubilant FoodWorks on Thursday reported over two-fold increase in standalone net profit at Rs 48.47 crore for the second quarter ended September 30, helped by increase in same store sales growth of Domino's Pizza.

Same store growth refers to the year-over-year growth in sales for restaurants in operation for 2 years.

The company, which operates Domino's Pizza and Dunkin' Donuts chains in India, had reported a net profit of Rs 21.56 crore in the same period of previous fiscal.

Its total income was up 9.02 per cent to Rs 730.28 crore during the quarter under review as against Rs 669.82 crore in the year-ago period, the company said in a BSE filing.

The company said growth was driven by a strong 5.5 per cent same store growth (SSG) in Domino's Pizza and disciplined cost management.

"A combination of mid-single digit same store sales growth and disciplined cost management led to another solid performance in second quarter of this financial year. We made good progress towards our goals during the quarter in both Domino's Pizza and Dunkin' Donuts," JFL Chairman Shyam S Bhartia and Co Chairman Hari S Bhartia said in a statement.

Total expenses during the period stood at Rs 657.01 crore compared to Rs 637.87 crore in the July-September quarter previous fiscal.

At present, the company operates 1,126 Domino's Pizza and 50 Dunkin' Donuts outlets.

During the September quarter, while the company opened one new Domino's Pizza outlet and shut another, it closed five Dunkin' Donuts outlet and opened two.

Shares of JFL were trading at Rs 1,640 per scrip, up 2.28 per cent on BSE.