Jubilant FoodWorks Q4 net down 24% at Rs 25 cr

Jubilant FoodWorks Ltd (JFL) today reported 23.72% decline in standalone net profit at Rs 24.95 crore for the fourth quarter ended March 31, 2013-14, due to higher expenses.

The company had posted Rs 32.71 crore profit in the January-March quarter of the previous fiscal, 2012-13.

Net sales rose by 18.56% to Rs 433.65 crore during Q4, 2013-14, from Rs 365.75 crore in the year-ago period, Jubilant FoodWorks said in a statement.

The company's expenses during the quarter increased by 24.88% to Rs 399.31 crore, from Rs 319.75 crore in the Q4 of last fiscal.

JFL CEO Ajay Kaul said: "Focused implementation and a solid foundation - have always been the key areas of concentration for JFL even during a year marked by overall strenuous macro-economic situation which led to cautious consumer spends and thereby a drop in our same store growth (SSG).

"Our vision for the future is intact. The current weakness has not deterred our confidence in the long term growth opportunities. On the contrary we continued to invest and have set the stage for future performance gains and earnings growth."

At present, JFL operates 749 Domino's Pizza and 29 Dunkin' Donuts outlets in India.

Jubilant FoodWorks scrip closed at Rs 1,191.20, up 3.1%, on the BSE.