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Jubilant FoodWorks extends fall post Q3 earnings

Q3 same store sales growth of 16.1% year-on-year is lowest in last 13 quarters.

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Jubilant FoodWorks has plunged almost 8% to Rs 1,045 extending its previous day’s 5.2% fall on NSE after reporting a lowest 16.1% year-on-year (YoY) growth in same store sales (SSS) in last 13 quarters during the third quarter ended December 31, 2012 (Q3).

"The food services company which operates and brand had recorded SSS growth of 19.8% in preceding quarter and 30.1% in a year ago quarter on yoy basis," according to Edelweiss Securities.

Meanwhile, the company’s gross margins fell by 23 bps YoY while higher rent costs and other expenses (mainly marketing expenses) dented EBITDA margin by 146 bps YoY, according to analyst.

The stock opened at Rs 1,126 and has seen a combined 1.05 million shares changing hands on the counter so far on both the exchanges.

 

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