Jubilant FoodWorks Ltd has reported more than 10-fold increase in standalone net profit at ₹68.06 crore for the quarter ended March 31, 2018, aided by strong same-store growth and product upgrades.

Standalone net profit stood at ₹6.71 crore in the corresponding quarter in the previous fiscal. Operating revenues grew by 27.25 per cent to ₹779.82 crore in the fourth quarter.

“The strong performance in Q4 FY 18 was driven by the continued success of All New Domino’s product upgrade rolled out in August and the traction of the Every Day Value pricing that provides customers attractive value for money,” the company said. In addition, strong growth in online sales also contributed to overall growth, with online sales now contributing to 63 per cent of delivery sales, it added.

For the full-year FY2017-18, standalone operating revenues stood at ₹2980.44 crore up 17.06 per cent. Standalone net profit jumped to ₹206.40 crore in FY 2017-18 compared with ₹67.25 crore in 2016-17.

“At the start of the year, we identified and articulated a new strategy for growth, and we are pleased to see that this translated into strong growth through the year, including in Q4. In addition, our sharp focus and control on costs as also our progress in reducing Dunkin’ Donuts losses led to a healthy increase in profitability,” said Shyam S Bhartia, Chairman, and Hari S Bhartia, Co-Chairman, Jubilant FoodWorks in a statement.

The board has recommended dividend of ₹5 per equity share of ₹10 each fully paid-up for the financial year ended March 31, 2018. The board has also recommended issue of bonus shares in the ratio of 1:1.

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