Jubilant Foodworks Q4 Profit Falls 9%; Firm Appoints Sameer Khetarpal As CEO

Jubilant Foodworks Ltd (JFL) on Monday reported an 8.8 percent decline in its consolidated net profit at 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 period previous fiscal, Jubilant Foodworks Ltd (JFL) said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 1,175.97 crore as against Rs 1,037.86 crore in the year-ago period, it added.

Total expenses during the quarter were higher at Rs 1,038.27 crore as compared to Rs 912.7 crore in the corresponding period a year ago.

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

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

In Q4 the company opened 80 new restaurants of Domino's Pizza in India, while in the whole of FY22 a total of 230 new restaurants were opened in the country, taking the total to 1,567 restaurants as of March 31, 2022, across 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, it 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 delivery and setting up an integrated supply chain network helped the company register record revenue, profitability, and store growth numbers even in the face of adversity and inflationary challenges.

This has enabled 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 its CEO & managing director with effect from September 5, 2022, and take over from Pratik Pota.

The board of directors of the company has recommended a dividend of Rs 1.2 per equity share of the face value of Rs 2 each for the financial year ended March 31, 2022, subject to shareholders' approval, it added.

(PTI)