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Jubilant Foodworks share hits fresh 52-week high on 12% rise in Q2 revenue

Jubilant Foodworks stock opened with a gain of 2.52% at Rs 1,466 today.

twitter-logo BusinessToday.In        Last Updated: October 23, 2019  | 10:47 IST
Jubilant Foodworks share hits fresh 52-week high on 12% rise in Q2 revenue
Jubilant Foodworks share price rose up to 6.80% to Rs 1,527, a fresh 52-week high compared to the previous close of Rs 1,429.90 on BSE.

Jubilant Foodworks share price rose nearly 7% in early trade today after the operator of fast-food chains Domino's Pizza and Dunkin' Donuts reported 12.16% rise in its Q2 revenue. Jubilant Foodworks share price rose up to 6.80% to Rs 1,527, a fresh 52-week high compared to the previous close of Rs 1,429.90 on BSE.

Jubilant Foodworks stock opened with a gain of 2.52% at Rs 1,466 today. The stock has gained 16.38% in last four sessions. The mid cap stock has gained 26.55% during the last one year and rose 21.13% since the beginning of this year. 21 of 28 brokerages rate the stock "buy" or 'outperform', four "hold" and three "underperform", according to analysts' recommendations tracked by Reuters.

Jubilant FoodWorks reported a decline of 3.40 per cent in its consolidated net profit to Rs 72.98 crore for the second quarter ended September 30 compared to the net profit of Rs 75.55 crore in the July-September quarter a year ago.

However, revenue from operations rose 12.16 per cent to Rs 998.05 crore during the quarter, compared to Rs 889.78 crore in the corresponding quarter of the previous financial year.

The company's reported Rs 890.21 crore in total expenses against Rs 782.90 crore in the corresponding quarter of the previous financial year up 13.70 per cent.

Jubilant Foodworks Chief Executive Officer Pratik Pota said, "We delivered a strong performance in the second quarter of 2019-20 with a revenue growth of 12.1 per cent and a sequential improvement in margins." During the quarter, JFL closed 6 restaurants also. As on September 30, JFL was operating 1,283 restaurants across 276 cities.

By Aseem Thapliyal

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