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Jubilant FoodWorks FY21 net profit down 15% to Rs 233.7 crore

For January-March quarter, the company's net profit rose almost five times to Rs 104.3 crore from Rs 21 crore in the year-ago quarter.

The company opened 134 new restaurants of Domino's Pizza in FY21 and closed 109 restaurants. The company opened 134 new restaurants of Domino's Pizza in FY21 and closed 109 restaurants.

Jubilant FoodWorks, which operates Domino's Pizza and Dunkin Donuts chains in India, on Tuesday reported 15.2 per cent decline in net profit for financial year 2020-21 at Rs 233.7 crore.

Revenue from operations fell 15.9 per cent to Rs 3,268.9 crore in FY21, while earnings before interest, tax, depreciation and amortisation (EBITDA) declined 12.6 per cent to Rs 766.6 crore. The company's EBITDA margin improved to 23.5 per cent from 22.6 per cent in FY20.

The company opened 134 new restaurants of Domino's Pizza in FY21 and closed 109 restaurants. Total Domino's Pizza restaurants stood at 1,360 spread across 293 cities at the end of FY21. Total Dunkin' Donuts restaurants stood at 24 at the end of FY21 as against 34 a year ago, while restaurants of company's new brands Hong's Kitchen and Ekdum! increased to 12 from 4 a year ago.

For January-March quarter, the company's net profit rose almost five times to Rs 104.3 crore from Rs 21 crore in the year-ago quarter as the March quarter last year was affected by the onset of COVID-19 pandemic and nationwide lockdown.

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Revenue from operations rose 14.3 per cent to Rs 1,025.9 crore during the quarter under review, while EBITDA grew 47 per cent to Rs 249.2 crore. EBITDA margin expanded by 542 basis points to 24.3 per cent.

"We returned to growth during the quarter, opened a large number of new stores, improved our operating margins and expanded our portfolio of brands... We are confident that our sustained investments in digital, supply chain, brand building, innovation and portfolio expansion will continue to be a source of competitive advantage for us and help drive hyper-growth," Jubilant FoodWorks CEO and Wholetime Director Pratik Pota said.

The company's board declared a final dividend of Rs 6 per share and also approved reappointment of Pota as CEO and Wholetime Director of the company for a period of three years with effect from April 1, 2022 till March 31, 2025, subject to approval of the shareholders.

Shares of Jubilant FoodWorks on Tuesday closed 0.28 per cent lower at Rs 3,190 on the BSE.

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