Jubilant FoodWorks Q2 net up 37% at Rs 32 cr

Jubilant FoodWorks that operates Domino's Pizza chain in India today reported a 36.63% rise in its net profit to Rs 32.34 crore for the quarter ended September 30, 2012 on the back of robust sales.

The company had posted a net profit of Rs 23.67 crore for the quarter ended September 30, 2011, Jubilant FoodWorks said in a statement.

Total income of the company rose to Rs 342.09 crore for the quarter under consideration from Rs 240.37 crore for the corresponding period previous fiscal.

Sounding bullish on the results, the company said it is revising its target of opening 100 Domino's Pizza stores to 110 for the current financial year and also increase the number of Dunkin' Donuts stores.

"We will be opening a total of 110 Domino's Pizza stores in FY13 instead of 100 stores as planned earlier, we will also be opening more Dunkin' Donuts stores," Jubilant FoodWorks CEO Ajay Kaul said in a conference call.

Out of the targeted number of stores the company has already opened 50 pizza stores in this financial year, he added.

The company has earmarked a capex of Rs 150 crore for growth across verticals as part of its expansion plans.

When asked about whether the firm was also planning a rise in prices, Kaul said: "The price increase will take place somewhere around this month. It will be marginal."

The total price rise for the year will be only 6 to 6.5%, he added.

The company had launched Dunkin' Donuts in the country in April 2012 in Delhi. It currently has 5 Dunkin' Donuts restaurants and plans to take it to 10 restaurants by the end of this fiscal.

Jubilant FoodWorks and its subsidiary operates Domino's Pizza brand with exclusive rights for India, Nepal, Bangladesh and Sri Lanka.

Shares of Jubilant FoodWorks Ltd today closed at Rs 1,316.70 on BSE, up 2.69% from its previous close.