New Delhi, May 10 (Inditop.com) Jubilant FoodWorks, which operates Pizza delivery major Domino’s in India, Monday reported net profit of Rs.33 crore and said it planned to open 70 stores in 2010-11.
The company’s total income during the fiscal ended March 31 was at Rs.424.3 crore, up 51 percent from last year, the company said in a statement.
“Our plans are bearing results and it is apparent that Domino’s Pizza as a brand is assuming a premier position in the food service industry in India,” said Ajay Kaul, Jubilant chief executive.
The company said the robust growth numbers were due to a rise in same-store sales and addition of new stores.
The company, which raised about Rs.330 crore from a recent initial public offer, plans to expand to new cities.
“During the last three years, we have opened about 50 to 60 stores. We will continue to go into new cities and strengthen our presence in existing ones. This fiscal we will add about 70 stores,” Kaul later said in a conference-call with reporters.
The chain has about 300 stores in the country, of which more than 230 have sit-in facilities as opposed to their strategy globally, where the main focus has been on home delivery.
