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Jubilant FoodWorks sizzles after opening restaurant in Dhaka

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Jubilant FoodWorks rose 1.18% to Rs 1,358.90 at 10:18 IST on BSE after the company said that Domino’s Pizza was officially launched in Bangladesh with the opening of its first restaurant in Dhaka.

The announcement was made after market hours on Friday, 15 March 2019.

Meanwhile, the S&P BSE Sensex was up 221.49 points or 0.58% at 38,245.81

On the BSE, 15,000 shares were traded on the counter so far as against the average daily volumes of 94,000 shares in the past two weeks. The stock had hit a high of Rs 1,365.20 and a low of Rs 1,349 so far during the day.

Jubilant FoodWorks said that Domino’s Pizza was officially launched in Bangladesh with the opening of its first restaurant in Rangs Fortune Square, Dhanmondi, Dhaka. Domino’s Pizza entered Bangladesh via a joint venture between Jubilant FoodWorks and Golden Harvest QSR, a part of Golden Harvest Group. The brand will operate under the JV named Jubilant Golden Harvest.

Domino’s Pizza comes to Bangladesh with a menu that is a unique combination of some top international favorite pizzas along with pizzas that were developed specifically for Bangladesh.

Jubilant FoodWorks’ net profit jumped 46.18% to Rs 96.51 crore on 18.08% growth in total income to Rs 942.85 crore in Q3 December 2018 over Q3 December 2017.

Jubilant FoodWorks is one of India’s largest food service companies with a network of 1,200 Domino’s Pizza restaurants across 271 cities (as of 31 December 2018). The company & its subsidiary have the exclusive rights to develop and operate Domino’s Pizza brand in India, Sri Lanka, Bangladesh and Nepal. At present, it operates in India and Sri Lanka. The company also has exclusive rights for developing and operating Dunkin’ Donuts restaurants for India and has 32 Dunkin’ Donuts restaurants across 10 cities in India (as of 31 December 2018).

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