Jubilant FoodWorks slumped 4.78% to Rs 894.40 at 11:50 IST on BSE after net profit fell 75.85% to Rs 6.72 crore on 0.74% decrease in total income to Rs 616.35 crore in Q4 March 2017 over Q4 March 2016.
The announcement was made after market hours yesterday, 29 May 2017.The stock has dropped 11.37% in three sessions to its ruling price of Rs 894.40 from a close of Rs 1,009.25 on 25 May 2017.
Meanwhile, the S&P BSE Sensex was up 34.67 points or 0.11% at 31,143.95. The S&P BSE Mid-Cap index was up 75.80 points or 0.53% at 14,445.70.
High volumes were witnessed on the counter. On the BSE, 3.2 lakh shares were traded on the counter so far as against the average daily volumes of 54,564 shares in the past one quarter. The stock had hit a high of Rs 901.50 and a low of Rs 817.60 so far during the day.
The stock had hit a 52-week high of Rs 1,298.80 on 2 August 2016 and a 52-week low of Rs 761 on 26 December 2016. The stock had underperformed the market over the past one month till 29 May 2017, falling 9.58% compared with the 3.98% gains in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 6.79% as against Sensex's 8.23% gains.
The mid-cap company has equity capital of Rs 65.95 crore. Face value per share is Rs 10.
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Jubilant FoodWorks' board recommended dividend of Rs 2.50 per share for the year ended 31 March 2017 (FY 2017).
The company's same store growth (SSG) was reported at negative 7.5% in Q4 March 2017 compared with a growth of 2.9% in Q4 March 2016.
Q4 revenue was impacted by demonetization during January-February 2017, its impact was partly offset by the increase in online ordering sales and incremental revenue due to addition of new restaurants, the company said in a statement.
Negative SSG and increase in cost primarily on account of expansion resulted in reduction in earnings before interest, tax, depreciation and amortization (EBITDA). Higher depreciation related to network expansion also impacted net profit in Q4. Earnings reflect the impact of exceptional items of Rs 12.17 crore related to one time separation cost incurred as part of manpower rationalization exercise carried out by the company during the quarter.
Jubilant FoodWorks is part of Jubilant Bhartia group and India's largest food service company with a network of Domino's Pizza restaurants pan India. The company & its subsidiary have the exclusive rights to develop and operate Domino's Pizza brand in India, Sri Lanka, Bangladesh and Nepal. The company also has exclusive rights for developing and operating Dunkin' Donuts restaurants for India.
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