Jubilant Food shares dip 8 pc on Q4 net fall

Shares of Jubilant FoodWorks today dipped by 8 per cent after the company reported a 6.5 per cent decline in standalone net profit for the quarter ended March.
The scrip plunged 7.95 per cent to settle at Rs 1,023.80 on BSE. During the day, it dropped 9 per cent to Rs 1,011.25.
On NSE, shares of the company fell by 7.99 per cent to end at Rs 1,023.
Tracking the weakness in the stock, the company's market valuation came down by Rs 581.71 crore to Rs 6,736.29 crore.
Food services major Jubilant FoodWorks on Saturday reported a 6.56 per cent decline in standalone net profit at Rs 29.46 crore for the quarter ended March 31, on account of higher expenses.

The company had posted a net profit of Rs 31.53 crore in the corresponding period of the previous fiscal.

Net sales rose to Rs 617.83 crore for the quarter under review, up 13.99 per cent, from Rs 542 crore in the same period a year ago, the company had said in a BSE filing.
During the quarter, overall expenses increased by 15.41 per cent to Rs 575.78 crore as compared to Rs 498.87 crore in the corresponding year-ago period.
Net profit of the company for the fiscal ended March 31, 2016 stood at Rs 114.56 crore against Rs 123.27 crore in 2014-15.