Jubilant Foodworks Ltd, which sells Dominos Pizzas in India, has posted a 51.6 per cent rise in its net profit at Rs 23.16 crore for the first quarter ended June 30, 2011, compared to Rs 15.28 crore in the corresponding period a year ago, backed by strong demand from the delivery segment.
The total income increased from Rs 135.65 crore to Rs 218.15 crore during the quarter ended June 30, 2011.
Mr Ajay Kaul, CEO, Jubilant Foodworks, said during a media call that the company would be setting up its maiden venture in Sri Lanka by August 2011. Apart from this, the company said its expansions are well on track. “We are planning to set up at least 80 stores by the end of this fiscal. We have already opened about 14 new stores in Q1 FY2012.” Jubilant has 392 stores in 93 cities at present.
Speaking on baked goods and coffee chain Dunkin' Donuts with which the company entered into an alliance earlier this year, Mr Kaul said the company is focussed on creating the foundation for a sustainable brand launch. “We are in the process of setting up manufacturing facilities, supply chain competencies and local vendor development,” he added.
Asked if there plans to diversify into non-food business, he said the company is working around the food business. “We may sell certain merchandise but have no current plans to move out the food business.”