Jubilant Foodworks, which operates Dominos Pizza and Dunkin Donuts chains in India, today reported a 31.93 per cent decline in standalone net profit at Rs 19.97 crore for the third quarter ended December 31, 2016. The company had posted a net profit of Rs 29.34 crore in October-December quarter a year-ago, Jubilant Foodworks said in a BSE filing. Its net sales during the period under review was up 3.94 per cent to Rs 658.75 crore as against Rs 633.76 crore in the corresponding period last fiscal, it said.
Commenting on results, JFL Chairman Shyam S Bhartia and Co Chairman Hari S Bhartia said: ” Q3 has been a challenging quarter for the consumer sector on account of currency demonetisation. However, we were able to minimize the impact by offering multiple non cash payment options to customers and launch of new products which got excellent customer response.”
Total expenses of the company during the quarter were higher at 6.76 per cent to Rs 632.90 crore as against Rs 592.77 crore in the year-ago period.
During the quarter, same store growth (SSG) decline by 3.3 per cent.
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JFL CEO-cum-Whole time Director Ajay Kaul said:” While we reported SSG of 3.3% for Q3FY17, we feel with the strength of our brand and strong execution capabilities, we expect an improved performance once the normalcy returns.”
In FY 17, JFL had target to open around 110-115 new Domino’s Pizza restaurants and around 15 new Dunkin’ Donuts restaurants.
It has “opened 95 Domino’s Pizza and 11 Dunkin’ Donuts’ restaurants thus far,” JFL informed in its investors presentation.
Shares of JFL today settled at Rs 1,007.20 on BSE, up 9.61 per cent from previous close.