Jubilant FoodWorks rose 1.09% to Rs 542.45 after the food services company has received approval of its board to set up a subsidiary to run Domino's Pizza business in Nepal.
The subsidiary in Nepal will be set up under Jubilant FoodWorks International Luxembourg at an initial capital contribution of about Rs 3,70,02,000.Nepal subsidiary shall have the exclusive right to develop and operate Domino's Pizza stores in the territory of Nepal.
Jubilant Foodworks is a food service company and engaged in retail sales of food through strong international and home grown brands addressing different food market segments. International brands include Domino's Pizza, Dunkin' Donuts and Popeyes.
On consolidated basis, the company's net profit rose 9.4% to Rs 131.53 crore on 16.6% jump in net sales of Rs 1301.49 crore in Q2 FY23 over Q2 FY22.
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