 "Inflation bites off Jubilant Food's Q1 profit; analysts serve earnings cut")
The markets have given a thumbs down to Jubilant FoodWorks for the April-June quarter (Q1) of 2023-24 (FY24).
The company, which owns and operates Domino’s Pizza and Popeyes chain of stores, reported a (standalone) net profit of Rs. 75.2 crore in Q1 of FY24. This is a drop of 25.5 per cent year-on-year (YoY) from Rs. 101 crore. However, it grew quarter-on-quarter (QoQ) from Rs. 47.5 crore.
What’s worrying the Street is the likelihood of a dismal Q2FY24 performance, which it feels will be marred by soaring milk, cheese and vegetable prices. It would also be due to an embargo
