Jubilant Foodworks Q2 net down 13% at Rs 29 crore

Jubilant Foodworks Ltd that runs food chains, including Domino's Pizza and Dunkin' Donuts in India, today reported 12.75% decline in standalone net profit at Rs 29 crore for the second quarter ended September 30, hurt by higher expenses.

The company had posted net profit of Rs 33.24 crore in the same period last year, Jubilant Foodworks said in a BSE filing.

Net sales during Q2, 2014-15 were at Rs 501.07 crore, up 14.76% as against Rs 436.6 crore in the year-ago period.

Commenting on the result, Jubilant FoodWorks Ltd (JFL) CEO Ajay Kaul said: "Our immediate goals and actions have always been designed in unison with our long-term strategies and consistent with opportunities that we foresee.

"By this virtue, we sustained our momentum to develop and equip our brands with the requisite ammunition, we directed our capital spending towards leveraging our existing assets and growing our infrastructure."

The company's total expenses in Q2 stood at Rs 463.71 crore, an increase of 19.11% compared with Rs 389.3 crore in Q2, 2013-14.

For the half year period ended September 30, the company posted a net profit of Rs 56.73 crore as against net profit of Rs 67.24 crore in the corresponding period last year.

Net sales of the company for the half year period ended September 30, rose to Rs 977.81 crore as compared to Rs 833.03 crore in same period in the previous fiscal.

The company's restaurant network for Domino's Pizza spans over 170 cities with 806 restaurants. It has also grown the network for Dunkin' Donuts across 13 cities with 38 restaurants, he added.

Shares of Jubilant Foodworks Ltd were being quoted at Rs 1,276.95 apiece in the late afternoon trade, down 1.86% from the previous close on the BSE.