Jubilant FoodWorks Q1 net profit up 5% to Rs 34 cr

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Jubilant FoodWorks today reported a 5.13 percent increase in standalone net profit to Rs 34 crore for the first quarter ended June 30.
 
The company had posted a profit of Rs 32.34 crore in the same quarter a year ago.
 
Net sales rose 26.07 percent to Rs 396.42 crore from Rs 314.44 crore in the corresponding period last year, Jubilant FoodWorks said in a statement.
 
"Our restaurant network for both Domino's Pizza and Dunkin' Donuts has been on growth track with us opening 26 and four new restaurants, respectively," Jubilant FoodWorks CEO Ajay Kaul said. "We had planned for a continued arduous environment and have worked in line to deliver healthy results for the quarter."
 
Profit remained at stable levels owing to moderated consumer spends, increased income-tax surcharge and depreciation expenses due to rapid expansion of the restaurant network, the company said in the statement.
 
Expenses in the quarter increased 29.31 percent to Rs 347.72 crore from Rs 268.89 crore.