Jubilant Foodworks appoints Sameer Khetarpal as CEO; net profit declines 9%

Jubilant Foodworks Ltd (JFL) on Monday reported an 8.8 percent decline in its consolidated net profit at Rs 96 crore in the fourth quarter ended March 2022, impacted by higher expenses.

The company had posted a consolidated net profit of Rs 105.3 crore in the same period previous fiscal, Jubilant Foodworks Ltd (JFL) said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 1,175.97 crore as against Rs 1,037.86 crore in the year-ago period, it added.

In Q4 the company opened 80 new restaurants of Domino's Pizza in India, while in the whole of FY22 a total of 230 new restaurants were opened in the country, taking the total to 1,567 restaurants as of March 31, 2022, across 337 cities, JFL said.

It has also appointed Sameer Khetarpal as CEO & Managing Director and Key Managerial Personnel of the company, effective September 05, 2022. Sameer Khetarpal will succeed Pratik Pota who resigned earlier this March.

“Sameer, with his strengths in building digital first businesses in related spaces will provide the necessary leadership to our business. He is a strong, dynamic and values-driven leader with an impressive track record of delivering consistent high-quality performance in tough consumer businesses,” shared Shyam S. Bhartia, Chairman and Hari S. Bhartia, Co-Chairman, Jubilant FoodWorks.

Sameer joins Jubilant from Amazon. Prior to Amazon, he served as a Partner at McKinsey and Company, where he served several hi-tech clients on topics related to business building and transformation, and was instrumental in building data driven service lines used by several Fortune 500 companies. Sameer has previously worked with GE Capital and Hindustan Unilever.

“As India’s largest food service company, JFL is uniquely poised to scale non-linearly across multiple businesses and geographies. The company has an exceptional track record of innovation and serving customers with exemplary standards. I am honoured to join Jubilant FoodWorks and look forward to working closely with the Jubilant team, to serve millions of customers by building businesses driven by technology and operations excellence,” added Khetarpal.