Street welcomes Jubilant FoodWorks' call to put Sameer Khetarpal at helm

Stock surges nearly 10% even as company posts 8.2% decline in profit in Q4FY22

Jubilant FoodWorks has appointed Sameer Khetarpal as CEO & managing director effective from September 5, the company said in a stock exchange filing on Monday. Khetarpal would take over from Partik Pota, current CEO and whole-time director.  

Following the news, the company’s stock surged and closed 9.64 per cent up at Rs 566.80 on the BSE, despite it reporting an 8.2 per cent decline in net profit in Q4FY22 to Rs 96.8 crore because of higher expenses. This was below Street estimates which pegged net profit at Rs 111.8 crore, even as the revenue at Rs 1,176 crore was slightly