Food services major Jubilant FoodWorks on Thursday reported a 11.5% year-on-year rise in net profit to Rs 32.7 crore for the three months from January till March of the last fiscal year against Rs 29.3 crore a year-ago. Net sales rose to Rs 365.8 crore during the quarter from Rs 282.9 crore a year-ago.
"We ended the fiscal on a positive note, in a scenario which was impacted by contracting economic activity at a macro level and restrained consumer spending. We witnessed a healthy increase in our topline and overall profitability led by benefits of our targeted growth initiatives and product innovation," said Shyam S Bhartia chairman, and Hari S Bhartia, co-chairman of Jubilant FoodWorks.
The company plans to continue its expansion plans and expand its Domino's Pizza network by opening 125 new stores in 2013-14. It also plans to open 18 new Dunkin' Donuts restaurants during the fiscal.