Jubilant FoodWorks has surged over 5% at Rs 1,386 after reporting a healthy 37% year-on-year (yoy) jump in its net profit at Rs 32.34 crore for the quarter ended September 30, 2012 on the back of higher sales.
The company, which holds the franchise rights for Domino's Pizza and Dunkin' Donuts chains in India, has reported 42% y-o-y growth in its net sales at Rs 342 crore during the quarter.
Meanwhile, the company has increased its store addition target for Dominos from 100 earlier to 110 in the financial year 2013 and will open a total of 10 Dunkin' Donuts stores in the same period. The company is also expected to undertake price hike of 3.0-3.5% in Domino’s Pizza, the report suggests.
The stock opened at Rs 1,297 and hit a high of Rs 1,391 on the BSE. Total 1.02 million shares have changed hands on the counter so far on both the exchanges.
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