Jubilant FoodWorks tumbles after weak Q1 results

Jubilant FoodWorks slumped 8.63% to Rs 1,078.30 at 12:59 IST on BSE after net profit declined 31.1% to Rs 19 crore on 6.7% growth in net sales to Rs 608.76 crore in Q1 June 2016 over Q1 June 2015.

The result was announced on Saturday, 3 September 2016. The stock market was closed yesterday, 5 September 2016 on account of Ganesh Chaturthi.

Meanwhile, the S&P BSE Sensex was up 311.09 points or 1.09% at 28,843.20.

On BSE, so far 1.53 lakh shares were traded in the counter as against average daily volume of 44,498 shares in the past one quarter. The stock hit a high of Rs 1,122.65 and a low of Rs 1,065 so far during the day. The stock had hit a 52-week low of Rs 896.65 on 12 February 2016. The stock had hit a 52-week high of Rs 1,689.30 on 6 October 2015. The stock had underperformed the market over the past one month till 2 September 2016, sliding 7.62% compared with Sensex's 1.97% rise. The scrip had, however, outperformed the market in past one quarter, surging 15.95% as against Sensex's 6.29% rise.

The mid-cap company has equity capital of Rs 65.84 crore. Face value per share is Rs 10.

Jubilant FoodWorks' Chairman Shyam S. Bhartia and Co-Chairman Hari S. Bhartia said that a contrained consumption environment had an effect on the company's overall performance in Q1 June 2016. The management expects Q2 September 2016 to see improved performance and positive same store growth.

In its outlook, Jubilant FoodWorks said that the company has a target of around 130-140 new Domino's Pizza and around 15 new Dunkin' Donuts restaurants for the current financial year (FY 2017) of which it had successfully opened 36 Domino's Pizza and 8 Dunkin' Donuts restaurants so far.

Jubilant FoodWorks' board of directors at its meeting held on 3 September 2016, appointed Sachin Sharma as the new President and Chief Financial Officer (CFO) of the company with immediate effect. Sharma will head the Finance & Accounts, Secretarial & Legal functions.

Jubilant FoodWorks and its subsidiary operates Domino's Pizza brand with the exclusive rights for India, Nepal, Bangladesh and Sri Lanka. It operates 1,062 Domino's Pizza restaurants across 248 cities (as of 3 September 2016). The company launched Dunkin' Donuts in India in April 2012 in Delhi. The company has 73 Dunkin' Donuts restaurants across 23 cities in India (as of 3 September 2016).

Powered by Capital Market - Live News