Jubilant FoodWorks Q2 net profit up 60 pc to Rs 77.67 cr

Jubilant FoodWorks Ltd (JFL) Wednesday reported a 60.24 per cent increase in standalone net profit to Rs 77.67 crore for the September quarter, helped by strong same-store growth of Domino's Pizza.

JFL, which operates Domino's Pizza and Dunkin' Donuts chains in India, had posted a net profit of Rs 48.47 crore in the July-September period a year ago.

Its total income was up by 22.17 per cent during the quarter under review to Rs 892.19 crore as against Rs 730.28 crore in the corresponding quarter of the previous fiscal, JFL said in a BSE filing.

JFL's total expenses were at Rs 772.28 crore as against Rs 657.01 crore, up 17.54 per cent.

This was "driven by a strong Same Store Growth of 20.5 per cent in Domino's Pizza", JFL said in a statement.

Same-store growth refers to the year-over-year growth in sales for restaurants in operation for two whole years.

"The company stepped up the store opening momentum during the quarter, with 24 new Domino's stores being opened, the highest in the last seven quarters," JFL said.

It closed five stores of Dunkin' Donuts in July-September. However, "Its losses were more than halved over the last year".

"Growth was driven by a strong and sustained momentum in Delivery Orders. In particular, our Digital focus showed good results with strong online sales growth, enabled by the new Domino's App garnering strong user ratings and having a slew of innovative and user friendly features," JFL CEO Pratik Pota said.

JFL operates a network of 1,167 Domino's Pizza restaurants across 269 cities and 32 Dunkin' Donuts restaurants across 10 cities.

Shares of JFL Monday settled at Rs 1,192.75 on the BSE, down 0.48 per cent from the previous close.