Jubliant FoodWorks slumps on disappointing same store sales growth

Q4FY13 same store sales growth at 7.7% against 16.1% in Q3FY13 and 46.1% in Q4FY12.

Jubilant FoodWorks has dipped 9% to Rs 1,000, also its 52-week low on NSE, after reporting same store sales growth (SSSG) of 7.7% for the quarter ended March 31, 2013 against 16.1% growth recorded in December quarter. The company which operates the Domino’s Pizza and Dunkin’ Donuts restaurant chains had SSSG growth of 46.1% in March 2012 quarter.

“Sales during the quarter reflect the impact  of economic factors, constraining consumer spend leading to lower than anticipated rate of customer additions, which in turn impacts SSS growth,” Jubilant FoodWorks said in a statement.

Meanwhile, the company has reported a 11.5% year-on-year (yoy) growth in net profit at Rs 32.71 crore on back of 29% yoy jump in operational income at Rs 366 crore over the previous year quarter.

EBITDA or operating margins declined 170bps to 16.7% from 18.4% during the recently concluded quarter.

The stock had opened at Rs 1,105 and hit a high of Rs 1,117 on NSE before announcements of the results. A combined 1.95 million shares changed hands on the counter till late noon deals on NSE and BSE.