Jubilant FoodWorks Q2 net profit up 3 pct, to hike prices of Dominos Pizza by 5 pct

Written by PTI | New Delhi | Updated: Oct 31 2013, 23:47pm hrs
Jubilant FoodWorksJubilant FoodWorks had posted Rs 32.34 crore profit in the July-Sept quarter in previous fiscal. (AP)
The Jubilant FoodWorks Ltd today reported 2.78 per cent increase in standalone net profit at Rs 33.24 crore for the second quarter ended September 30, 2013-14.

The company had posted Rs 32.34 crore profit in the July-September quarter in the previous fiscal, 2012-13.

Net sales rose 27.64 per cent to Rs 436.6 crore during Q2, 2013-14, from Rs 342.03 crore in the year-ago period, Jubilant FoodWorks said in a statement.

"The short-term challenges on the inflationary front and around lower discretionary spends are manageable and we have built our business to tide over such exigencies and are confident in our ability to address them," said Jubilant FoodWorks CEO Ajay Kaul

The company's expenses during the quarter increased by 30.98 per cent to Rs 389.3 crore, from Rs 297.22 crore in the Q2 of last fiscal.

"Growth in overall business along with increased input cost inflation, increased level of sales promotion, higher spends on marketing necessitated in an environment of weaker consumer sentiment have together translated to higher spends during the quarter," said the statement.

Jubilant FoodWorks stock was trading at Rs 1,145.50 per scrip, up 1.06 per cent from its previous close, on the BSE.