Jubilant profit doubles in Q2

Jubilant FoodWorks, which operates Domino’s Pizza and Dunkin Donuts chains in India, on Thursday reported an over twofold growth in net profit to Rs 48.47 crore for the quarter ended September 30. The company had posted a net profit of Rs 21.56 crore in the corresponding period last year.

Net sales during the quarter grew 9.17 per cent to Rs 726.63 crore, as against Rs 665.54 crore a year ago. Total expenses during the period stood at Rs 657.01 crore, compared to Rs 637.87 crore in the July-September quarter last year. The firm reported same-store sales growth of 5.5 per cent for the September quarter. For three months to June, the growth was 6.5 per cent, the highest in nine quarters.

 “We made good progress towards our goals during the quarter in both Domino’s Pizza and Dunkin Donuts. The performance strengthens our conviction in the strategy for growth unveiled earlier in the year,” Jubilant FoodWorks chairman Shyam S Bhartia said.

Led by its new chief executive officer Pratik Pota, Jubilant FoodWorks has focused on driving profitable growth over the past two quarters. Pota took over as CEO from Ajay Kaul in April this year. 

This meant closing stores, controlling costs and driving efficiencies in the system. In the September quarter, for instance, the company downed shutters of one Domino store and five outlets of Dunkin Donuts. In the June quarter, five Domino stores and 13 outlets of Dunkin Donuts were shut.

The company’s stock was trading up 2.45 per cent at Rs 1,642.70 a share on the BSE at the end of trade on Thursday.