Mumbai, May 8 (IANS) Food service company Jubilant FoodWorks (JFL) on Tuesday reported an exponential rise in its net profit for the fourth quarter of 2017-18.
According to Jubilant FoodWorks, its profit after tax in the quarter under review increased to Rs 68.06 crore from Rs 6.71 crore reported for the like period of the previous fiscal.
“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 a statement.
“In addition, strong growth in online sales also contributed to overall growth, with online sales now contributing to 63 per cent of delivery sales.”
Besides, the company’s net profit for 2017-18 rose by 206.91 per cent to Rs 206.4 crore from Rs 67.25 crore over FY17.
Commenting on the result, the company’s CEO and Whole time Director Pratik Pota said: “Our key strategic initiatives undertaken in the past one year such as the launch of All New Domino’s, Every Day Value and sharp focus on Digital sales drove strong growth for us…”
The company’s Board recommended a dividend of Rs 5 per equity share of Rs 10 each fully paid up for the financial year ended March 31, 2018 on existing share capital of the company subject to approval of the shareholders in annual general meeting.