Profit companies

Jubilant Foodworks Q4 profit drops 9%, appoints Sameer Khetarpal as new CEO

Jubilant Foodworks Ltd (JFL) on Monday reported an 8.8% drop in its consolidated net profit to Rs 96 crore in the fourth quarter ended March 2022, impacted by higher expenses.

The company had posted a consolidated net profit of Rs 105.3 crore in the same previous fiscal period, Jubilant Foodworks Ltd (JFL) said in a regulatory filing.

Consolidated revenue from operations in the quarter under review was Rs 1,175.97 crore compared to Rs 1,037.86 crore a year ago, it added.

Total expenditure during the quarter was higher at Rs 1,038.27 crore compared to Rs 912.7 crore during the corresponding period a year ago.

For the financial year ended 31 March 2022, the consolidated net profit was Rs 418.09 crore compared to Rs 230.52 crore the previous year.

Consolidated revenue from operations in FY22 was Rs 4,396.12 crore compared to Rs 3,311.87 crore in FY21, said the company which owns the exclusive master franchise to develop and operate the Domino’s Pizza brand in India, Sri Lanka, Bangladesh and Nepal.

In the fourth quarter, the company opened 80 new Domino’s Pizza restaurants in India, while for the whole of FY22, a total of 230 new restaurants were opened in the country, bringing the total to 1,567 restaurants in 31 March 2022 in 337 cities, JFL said.

The company also opened four new restaurants for Popeyes and one new restaurant each for Dunkin’, Hong’s Kitchen and Ekdum! during the quarter, he added.

Commenting on the performance, JFL Chairman, Shyam S Bhartia, and Co-Chairman, Hari S Bhartia, said a series of timely strategic investments in strengthening the digital ecosystem for the delivery and establishment of an integrated supply chain network helped the company achieve record revenue, profitability and store growth. numbers even in the face of adversity and inflationary challenges.

This has allowed JFL to foray into new categories and make strategic investments, which will continue to create significant future value for all stakeholders, they added.

The company also announced the appointment of Sameer Khetarpal as CEO and Managing Director effective September 5, 2022 and succeeds Pratik Pota.

The company’s board has recommended a dividend of Rs 1.2 per share with a par value of Rs 2 each for the year ended March 31, 2022 subject to shareholder approval, it said. he adds.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor