Jubilant FoodWorks advanced 2.56% to Rs 721.65 after the company announced that it has entered into a memorandum of understanding (MoU) with Coca-Cola India to procure sparkling beverages from the soft drink major's bottlers.
Under the terms of the agreement, Jubilant FoodWorks will acquire a portfolio of sparkling beverage products and select other items from the Coca-Cola Companys authorized bottlers.The company will conduct marketing activities for the specified products as outlined in the agreement. A master agreement will be executed between the parties, starting from 1 April 2025, based on the principal terms of the MoU, with additional terms aligned to the size and scale of such arrangements.
Jubilant FoodWorks ranks among the leading emerging markets food service companies. Its group network comprises 3,130 stores across six markets: India, Turkey, Bangladesh, Sri Lanka, Azerbaijan, and Georgia. The Group has a strong portfolio of brands in emerging markets with franchise rights for three global brandsDollar's, Popeyes, and Dunkin'and' two own brandsHongs Kitchen, an Indo-Chinese QSR brand in India, and a CAFbrandCOFFY in Turkey.
The company's net profit fell 26.4% to Rs 71.5 crore on a 42.8% increase in revenue to Rs 1954.7 crore in Q2 September 2024 over Q2 September 2023.
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