Jubilant FoodWorks Q3 net profit rises 55.47 percentFebruary 8th, 2012 - 8:59 pm ICT by IANS
New Delhi, Feb 8 (IANS) Jubilant FoodWorks (JFL), which operates pizza vendor Domino’s, Wednesday reported a 55.47 percent increase in net profit at Rs.29.47 crore for the third quarter ended Dec 31, 2011 and said it would start operating its Dunkin’ Donuts stores in the country next quarter.
Net sales stood at Rs.276.97 crore during the quarter under review, up 49 percent against Rs.185.63 crore during the year-ago period, the company said in a statement.
“Our product and store additions continued at a healthy pace. We are successfully enhancing our market share and fortifying our leadership in the quick service industry as we have grown Domino’s Pizza network to 439 stores as of Dec 31, 2011,” said Hari S. Bhartia, co-chairman, Jubilant FoodWorks Limited.
Chief Executive Officer Ajay Kaul said the company would set up the first Dunkin’ Donuts store in the next quarter. The company plans to set up 80 to 100 such stores across the country in the first five years.
Last year JFL signed a master franchisee agreement with the international subsidiary of Dunkin’ Donuts to bring one of the world’s leading baked goods and coffee chain to India.
Kaul also said the company had invested Rs.70 crore this year and expects the investment to cross Rs.100 crore the next year.
The company launched 28 new stores, extending its network to 439 Domino’s Pizza stores in 100 cities as on Dec 31.
JFL is also setting up a new factory in Chandigarh besides relocating its Mumbai and Kolkata factories to bigger places.
“The Mumbai and Kolkata factories are not able to manage the kind of volumes we have. So we are relocating them to bigger locations,” Kaul said.
Kaul also said the company’s plan to enter Bangladesh was at an early stage and it was identifying suitable partners in the country.
At the Bombay Stock Exchange the shares of the company closed 3.04 percent up at Rs.947.40.
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