Jubilant FoodWorks' Q3 net up 55% at Rs 29 cr

Jubilant FoodWorks Limited (JFL) that operates Domino's pizza chain in India today posted 55.51% jump in its net profit for the third quarter ended December 31, 2011 at Rs 29.47 crore compared to the same period last fiscal, boosted mainly by good sales.

The company's net profit during the three months ended December 31, 2010 was Rs 18.95 crore, it said in a statement.

JFL's net sales for the third quarter of current fiscal increased 49.20% to Rs 276.97 crore as against Rs 185.63 crore in the corresponding quarter of 2010-11.

Increase in net profit is attributable to the higher income from sales along with prudent measures to drive efficiency, the company said.

Commenting on the performance, JFL CEO Ajay Kaul said the firm witnessed 49% increase in overall sales while same store sales growth was at 30% during the quarter.

For the quarter under review, JFL has accounted for Rs 87 lakh as exceptional item as expenses for operationalising the Dunkin' Donuts.

During the quarter under review the company opened 28 new Domino's stores across the country.

"We are successfully enhancing our market share and fortifying our leadership in the quick service industry as we have grown Domino's Pizza network to 439 stores as of 31 December 2011," JFL Chairman Shyam S Bhartia said.

The plans to launch Dunkin' Donuts are advancing well and are at par with previously set timeline to launch it in H1-calendar year 2012, he added.

Early last year JFL had announced master franchise agreement with US-based baked food and coffee chain Dunkin' Donuts.

JFL is currently developing back-end chain before introducing the brand in India, the statement added.

The company's scrips were trading at Rs 943.35 per share in the afternoon trade, up 2.60% from the previous close on the BSE.