Jubilant Foodworks fourth quarter net profit surged 52% year-on-year to Rs 29 crore, as strong sales growth at its Domino's pizza chain, helped offset rising expenses.
Jubilant Foodworks fourth quarter net profit surged 52% year-on-year to Rs 29 crore, as new store openings and strong sales growth at its Domino's pizza chain, helped offset rising expenses.
The company's net sales in Jan-March were up 46% to Rs 283 crore. Same-store sales rose 26.2% in the quarter.
The results were in-line with analysts expectation of a profit of Rs 29 crore on revenue of Rs 287 crore, according to CNBC-TV18 poll.
Jubilant's quarterly operating profit margin was at 18.5% versus 17.1% a year ago.
In Jan-March, the company's raw material costs rose 40% to Rs 59.2 crore, employee expenses were up 39% to Rs 54.82 crore and rentals rose 52% to Rs 22.6 crore.
Jubilant Foodworks said it had exceptional loss of Rs 1.61 crore in the quarter and Rs 4.1 crore for the last financial year due to expenses for operationalising Dunkin' Donuts business.
Jubilant Foodworks opened the first India outlet of the global donut and coffee chain in New Delhi earlier this week. It has plans to open 10 Dunkin' Donut stores in the current financial year, all in Delhi. Over the next 5 years, it will open 80-100 outlets across India.
Meanwhile, the company opened 26 Domino's Pizza outlets in Jan-March and as of March 31, it had 465 stores. It now has a presence across 105 cities.
Jubilant Foodworks shares were down 2.1% at Rs 1,047.40 on NSE in afternoon trade. The stock is up 45% in the last one year.