Jubilant FoodWorks rebounds from day's low, hit record high post Q1 results

The company said the revenue recovery improved significantly, with a recovery of 69.8 per cent in July and 84.6 per cent in August

Shares of Jubilant FoodWorks hit fresh record high of Rs 2,305, up 2.3 per cent, bouncing back 4 per cent in intra-day trade, on the BSE on Thursday on expectation of margins improvement going forward.

The stock declined 2 per cent to Rs 2,210 in the early morning trade after the company reported weaker than expected April-June quarter (Q1FY21) earnings with same-store-sales (SSS) falling 61.4 per cent and a net loss of Rs 72.6 crore. The company had clocked net profit of Rs 75 crore in the previous year quarter. Gross margins, however, expanded by 350bps year on year (YoY) on