Jubilant Foodworks shares dropped as much as 9 per cent after the makers of Domino's Pizza missed profit estimates for the March quarter. Jubilant shares were down 8.6 per cent to Rs 1,005.50 as of 3.20 p.m., underperforming the broader market indices.
Jubilant Foodworks posted a net profit of Rs 32.7 crore for the quarter ended March 31, 2013 as compared to Rs 29.3 crore for the quarter ended March 31, 2012. Total sales increased from Rs 285 crore for the quarter ended March 31, 2012 to Rs 368 crore for the quarter ended March 31, 2013.
Earnings before interest, depreciation, tax and amortization rose to Rs 61.2 crore against estimates of Rs 67.3 crore, while EBIDTA margins declined 150 basis points year-on-year and 70 basis points quarter-on-quarter..
Same store sales growth rose by 7.7 per cent in Q4, much lower than estimates.
Jubilant Foodworks plans to open 125 new stores in fiscal 2013-14.
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