Coffee Day Enterprises Q3 net profit jumps 146% to Rs12.34 crore
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Bengaluru: Coffee Day Enterprises Ltd, which runs the Café Coffee Day (CCD) chain, on Wednesday said net profit in the December quarter jumped 146% to Rs12.34 crore from the same period a year ago.
Revenue rose 13% to Rs763.32 crore during the same period.
Sales from its coffee and related businesses segment rose 12.54% to Rs415.33 crore. The company’s outlet count rose to 1,654 from 1,586, while its vending machine count rose to 40,013 from 33,742 during the period.
Coffee Day, which went public in October 2015, recorded same-store-sales growth of 6.08% in the December quarter and an average sales per day (ASPD) of Rs14,815.
“Specifically on demonetization, we did see some impact in our cafe sales in the first and second week post the announcement of demonetization but subsequently our sales recovered with the ASPD approaching the Rs15,000 mark,” V.G. Siddhartha, chairman and managing director, Coffee Day Enterprises said in a filing with the BSE.
“Our mobile app downloads stood at 18.46 lakh as at December 2016 vs. 7.78 lakh as at September 2016. We are seeing a significant increase in the number of transactions through non-cash means (digital wallet, credit cards etc) at our cafes. We are working towards making significant improvements in the app to enhance the consumer experience. Our Freshly Made food category, ice cream range and recently launched Magical Brews are being well received by our customers and are being rolled out across our network in a phased manner,” he added.
Coffee Day’s shares gained 1.81% to Rs202.95 per share on the BSE, while the Sensex gained 0.08% to 28,356.89 points on Wednesday afternoon.