Jubilant FoodWorks to invest Rs 250cr on capex during FY2013-14

Domino-PizzaJubilant FoodWorks, the operator of Domino's Pizza chain, on Friday announced its plan to invest Rs 250 crore on capital expansion (capex) during the current financial year.

The company, which also operates Dunkin Donuts restaurants, said capital expansion would be funded from internal accruals. The capital expansion is expected to help the company in maintaining growth.

Announcing the plan, Jubilant FoodWorks chief executive Ajay Kaul said, "The growth story is absolutely intact, and the growth will be driven by the investments we make. This year we will invest Rs 250 crore for capital expansion."

The company has plans to open 125 Domino's Pizza restaurants and 18 Dunkin Donuts restaurants during the FY2013-14.

The expansion plan was announced, after the company reported an increase of 5.13 per cent in its standalone net profit at Rs 34 crore for the April-June quarter of the current financial year.

In the April-June quarter of the last financial year, the company has reported a standalone net profit of Rs 32.34 crore.

Net sales jumped 26.07 per cent year-on-year, from Rs 314.44 crore to Rs 396.42 crore.

Shares of Jubilant FoodWorks gained 1.08 per cent to Rs 1,113.05 apiece in the after-hours trading on the Bombay Stock Exchange.