Jubilant FoodWorks shares tumble 13% after disappointing March Q4 results
#JubilantFoodWorks yesterday reported a 75.88 percent fall in standalone net profit at Rs 6.71 cr in Q4
New Delhi: Shares of Jubilant FoodWorks today slumped 13 percent after the company reported a 75.88 percent fall in standalone net profit for the fourth quarter ended 31 March.
Disappointing earnings dragged down shares of the company. After making a weak opening, the stock further tanked 12.95 percent to Rs 817.60 on BSE.
At NSE, the scrip plummeted 13 percent to Rs 817.20.
Jubilant FoodWorks yesterday reported a 75.88 percent fall in standalone net profit at Rs 6.71 crore for the fourth quarter ended 31 March.
The company -- which operates Domino's and Dunkin' Donuts outlets in India -- attributed negative same store growth (SSG) and increase in cost on account of expansion for fall in earnings before interest, tax, depreciation and amortisation (EBITDA).
Jubilant FoodWorks had posted a net profit of Rs 27.83 crore in the corresponding period of previous fiscal.
Its total income stood at Rs 616.35 crore for the quarter under review, down marginally from Rs 620.97 crore in the same period a year ago, the company said in a BSE filing.
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The firm, which has appointed Jubilant Foodworks Ltd (JBL) as its master franchisee in India, opened its third store in the capital.
The company so far had an exclusive arrangement with Coca-Cola in the country.
Jubilant FoodWorks, which has the master franchise for Dunkin' Donuts outlets in the country, has said it will enter the Mumbai and Bangalore markets within next six months.