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Jubilant Foodworks Shares Gain 6.6% after Q2 Earnings

Jubilant FoodWorks' consolidated profit dropped 2.8% year-on-year in the September quarter to Rs 73.4 crore due to a one-time loss of Rs 12.5 crore. Consolidated revenue, meanwhile, grew 12.2% to Rs 998 crore.

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Updated:October 22, 2019, 4:09 PM IST
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Jubilant Foodworks Shares Gain 6.6% after Q2 Earnings
File photo of a Domino's Pizza restaurant in Sydney, Australia. Image for Representation. (Reuters)

Shares of Jubilant Foodworks, the operator of Domino's Pizza and Dunkin' Donuts chain in India, surged as much as 6.6% on Tuesday, i.e. 22 October, even as the company reported a decline in its earnings for the second quarter ended September (Q2).

The Jubilant Foodworks stock closed the session at Rs 1,435, up 5.6%, after hitting an intra-day high of Rs 1,450. The stock has risen nearly 20% in the past one year.

Jubilant FoodWorks' consolidated profit dropped 2.8% year-on-year in the September quarter to Rs 73.4 crore due to a one-time loss of Rs 12.5 crore. Consolidated revenue, meanwhile, grew 12.2% to Rs 998 crore.

The management said the one-time loss was an exceptional item that represented provision created against investments made by Jubilant FoodWorks Employee Provident Fund Trust in the corporate bonds of Dewan Housing Finance Corp. Ltd (DHFL), Reliance Capital and IL&FS, and was fully provided for on account of prevailing uncertainties.

At the operating level, consolidated earnings before interest, tax, depreciation and amortisation (Ebitda) jumped 60% year-on-year to Rs 234.1 crore, while margins expanded 700 bps to 23.5% in the September quarter.

Same-store sales growth stood at 4.9%. Though it was in line with analyst estimates of 3-5%, it was much lower than the 20.5% growth seen in the year-ago period.

Jubilant Foodworks also announced that it opened 40 new Domino's stores during the quarter under review -- the highest in the last 15 quarters. This takes the company’s total store count to 1,283 stores across 276 cities.

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