Jubilant FoodWorks incorporates subsidiary in Netherlands

Jubilant Foodworks Netherlands B.V. was incorporated in Netherlands on 15 February 2021 and is yet to commence its business. The company subscribed to one hundred shares of nominal value of one eurocent (0.01) each in the subsidiary, aggregating to one euro (1). The unit will explore business opportunities in the region.

Shares of Jubilant FoodWorks rose 0.49% at Rs 2884.05. Jubilant Foodworks is India's largest foodservice company. Its Domino's Pizza franchise extends across a network of 1,314 restaurants in 285 cities (as of 31 December 2020). The company also enjoys exclusive rights to develop and operate Dunkin' Donuts restaurants in India, has in operation 27 restaurants across 8 cities in India (as of 31 December 2020).

On a consolidated basis, Jubilant Foodworks' net profit jumped 21.71% to Rs 123.91 crore on a 0.2% fall in revenue from operations to Rs 1,069.3 crore in Q3 December 2020 over Q3 December 2019.

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