Jubilant Foodworks rises as arm increases stake in Domino's Netherlands franchisee

Jubilant Foodworks rose 1.30% to Rs 642 after Jubilant Foodworks Netherlands, a wholly owned subsidiary of the company has increased its stake in DP Eurasia through various on-market purchases.

DP Eurasia is a public company incorporated in Netherlands and listed with London stock exchange. It is the exclusive master franchisee of the Domino's Pizza brand in Turkey, Russia, Azerbaijan and Georgia. The company reported a turnover of 1,259,480 Turkish Lira for the half year ended 30 June 2022.

Jubilant Foodworks Netherlands (JFN) acquired 63,53,138 ordinary shares of DP Eurasia, aggregating to 4.36% of its total issued share capital through various on-market purchases for a total consideration of 28,73,328 British pound sterling. As on 3 October 2022, (JFN) is holding 7,14,13,939 ordinary shares in DP Eurasia representing 49.04% of its issued share capital.

Jubilant Foodworks (JFL) is India's largest foodservice company and is part of the Jubilant Bhartia group. Incorporated in 1995, JFL holds the exclusive master franchise rights from Domino's Pizza Inc. to develop and operate the Domino's Pizza brand in India, Sri Lanka, Bangladesh, and Nepal. In India, JFL has a strong and extensive network of 1,625 Domino's restaurants across 349 cities.

The company's standalone net profit soared 61.41% to Rs 100.96 crore on 41.1% surge in revenue from operations to Rs 1,240.27 crore in Q1 FY23 over Q1 FY22.

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