Business

Jubilant FoodWorks Q3 net rises 7.5% to Rs 133 cr; board OKs stock split

The board of directors has approved and recommended for approval of shareholders, the sub-division of equity shares from face value of Rs 10 each to face value of Rs 2 each

Jubilant Foodworks Ltd (JFL), which manages the chains of the fast service restaurant (QSR) such as Donut Donut Domino and Dunkin Pizza ‘, reported Wednesday 7.48% of its consolidated net profit to RS 133.19 crore for the thirdJFL’s total expenses rose 13.06 per cent to Rs 1,040.23 crore in the December 2021 quarter, compared with Rs 920.02 crore in the yearago period.”When compared to the preCOVID19 period of Q3FY20, Domino’s system sales recovered by 112.9 per cent.”This was attributed to recovery in delivery and takeaway channels by 128 per cent and 148.2 per cent, respectively.Dinein channel witnessed a healthy recovery at 71.7 per cent,

JFL said.During the October-December 2021 quarter, JFL opened 75 new restaurants for Domino’s Pizza, entering 17 new cities. The quarter also saw new store opening records with the opening of 75 new Domino’s stores. This is the highest number of new store openings ever recorded by a franchisee in a quarter and in a market. Additionally, JFL also recently passed the milestone of 1,500 Domino stores in India. During the quarter, JFL recorded 8.2 million downloads of the Domino app, bringing the total number to 79.5 million. It also opened one new restaurant each for Dunkin’ in the third quarter, bringing the total number to 29. JFL also opened one restaurant for each of its new QSR brands: Hong’s Kitchen and Ekdum!, bringing the total number to 22 at the end. .of the quarter.In January, JFL also launched the iconic American fried chicken brand Popeyes in India by opening two stores in Bangalore.

The initial customer response and feedback has been encouraging,” JFL said, adding that another Popeyes QSR is expected to open soon. Sharing information on its overseas operations, JFL said Sri Lanka recorded the highest system sales in a quarter, with system sales growing by 95.9%. While in Bangladesh, system sales increased by 38%. the company launched a new store in Sri Lanka and Bangladesh,” he said. JFL Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia said, “We delivered a strong and comprehensive performance in Q3FY22, as well as a record expansion of Domino’s network of stores.

The company continues to create benchmarks, exceed milestones, and we are excited about the growth opportunity ahead of us. Meanwhile, in a separate filing, JFL said its board at a meeting on Wednesday approved and recommended a split of shares with a face value of Rs 10 each to a face value of Rs 2 each. This would “increase the liquidity of the company’s stock and encourage participation by small investors by making it more accessible,” JFL said.Jubilant Foodworks Ltd Actions on Wednesdays settled in 3,301.25 Rupees on BSE, down 4.04% of the previous closure.

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