Coffee Day Q1 profit rises 51.13% to Rs26.83 crore
Bengaluru: Coffee Day Enterprises Ltd’s fiscal first-quarter net profit rose by more than half as the cafe chain benefited from consumer demand for newly launched products.
Profit rose by 51.13% to Rs26.83 crore in the three months ended June from Rs17.75 crore a year ago, the company which runs the Café Coffee Day (CCD) chain and operates resorts said.
Revenue rose 9.86% to Rs830.41 crore from Rs755.86 crore.
Sales at its coffee and related business, which accounts for a major chunk of revenue, grew 15.63% to Rs517.32 crore.
“Our recently introduced beverage range, Summer Chillers, and newly introduced dessert range, Over the Top sundaes, have been well received by our customers and continue to do well. We have also launched Storm, our own energy drink and the initial feedback has been quite encouraging,” Coffee Day chairman and managing director V.G. Siddhartha said in a statement.
Same-store sales, a measure of sales at outlets that have been open for at least a year, rose 6.94% compared with 6.91% in the January-March quarter and 4.06% in the same period last year.
It added 32 cafes (gross) in the June quarter, taking the total count to 1,694. Coffee Day, which also retails its brews through vending machines, owned 42,788 such machines at the end of the quarter.
“Given our strong foundation and ever increasing focus on customer engagement, we remain excited about the growth prospects of our coffee business. Our other (non-coffee) businesses continue to demonstrate steady growth,” Siddhartha said in the statement.
- Kahalistani terrorist not part of Trudeau delegation, shouldn’t have been invited to dinner: Canada
- Kia Motors to hire 3,000 employees for its upcoming plant in Andhra Pradesh
- Gold prices plunge by Rs100 on lacklustre demand
- Manohar Parrikar arrives in Goa, presents state budget
- China downplays report of upgrading air defences along India border