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Jubilant FoodWorks Q1 net down 31% at Rs 19 cr

Jubilant FoodWorks Q1 net down 31% at Rs 19 cr

Jubilant FoodWorks , which operates Domino’s Pizza and Dunkin Donuts chains in India, today reported a 31.09 percent fall in standalone net profit at Rs 18.99 crore for the first quarter ended June 30.

The company had posted a net profit of Rs 27.56 crore in the same period of previous fiscal.

However, total income from operations went up by 6.69 percent to Rs 608.91 crore during the quarter under review as against Rs 570.68 crore in the year-ago period, Jubilant FoodWorks Ltd (JFL) said in a filing to the BSE.

Commenting on results, JFL Chairman Shyam S Bhartia and Co Chairman Hari S Bhartia said: “A constrained consumption environment had an effect on the overall performance in the first quarter of 2016-17. Since then, exciting new product introductions have played an important role in driving sales.

We hope in the second quarter we will see improved performance and positive same store growth.” During the quarter, same store growth (SSG) decline by 3.2 percent.

Attributing the reason for fall in net profits, the company said: “Profit after tax reflects the impact of curbed revenue growth and SSG in the quarter on account of weak consumer sentiment.” At present, the company operates 1,062 Domino’s Pizza and 73 for Dunkin’ Donuts outlets.

In a separate filing, the company said its Board of Directors have appointed Sachin Sharma as the Chief Financial Officer and Key Managerial Personnel of the company with immediate effect.