Jubilant Foodworks is hunting for a third global brand to launch in India even as it tries to grow it's latest franchise with Dunkin Brands group.
Jubilant Foodworks plans to spend Rs 75 crore on four new commissaries in FY14, its CEO Ajay Kaul said on Friday. He says consumers are downtrading and cutting back on spends amid the economic slowdown, but is confident of double-digit growth, once the economy recovers.
Jubilant Foodworks, a master franchisee of Domino's Pizza International and Dunkin' Donuts, has reported a net profit of Rs 32.3 crore in the second quarter of current financial year, a growth of 36 percent compared to Rs 23.7 crore in a year ago period.
Jubilant Foodworks, which runs Domino's Pizza outlets in India says there are early signs of slowdown in consumer spending and new customer acquisitions, a sign that may suggest that Quick Serve Restaurants as they are called, could be catching the slowdown bug.
Jubilant Foodworks' first quarter net profit rose 40% year-on-year to Rs 32.35 crore, helped by strong growth in sales and new store openings. However, the stock fell 1% after the company said margins declined due to higher expenses.
Jubilant Foodworks which has expanded in the past three years is looking to add another 85 stores in FY13.