Jubilant FoodWorks share price drops over 5% after Q2 results; brokerages trim estimates; here's what they say

livemint.com:

Jubilant FoodWorks share price today: Jubilant FoodWorks share price fell over 5 per cent on Thursday, October 26, a day after the company reported its September quarter earnings. Jubilant FoodWorks share price opened at ₹511 against the previous close of ₹528.40 and soon fell over 5 per cent to the level of ₹499.55. The stock traded 5.07 per cent lower at ₹501.60 on the BSE around 9:30 am.

Jubilant Food stock has poorly performed in the last one year. The stock is down over 15 per cent in the last one year while the benchmark Sensex is up about 6 per cent in the same period. After market hours on Wednesday, October 25, Jubilant FoodWorks, which owns Domino’s Pizza franchises, Dunkin’ restaurants and Popeyes restaurants in India, reported a 39.5 per cent year-on-year (YoY) fall in standalone profit after tax (PAT) at ₹72.1 crore for Q2FY24 against a profit of ₹119.2 crore in the corresponding quarter of the previous financial year.

PAT margin for the quarter stood at 5.4 per cent. Revenue from operations for the quarter, however, rose 4.5 per cent YoY to ₹1,344.8 crore from ₹1,286.8 crore in the same quarter last year. Jubilant FoodWorks' gross profit for the quarter was ₹1,027.5 crore, up 4.7 per cent.

Gross margin came in at 76.4 per cent. EBITDA came in at ₹280.7 crore and EBITDA margin stood 20.9 per cent. The company opened 60 new stores in India and its total store count reached 1,949 across all brands.

With 50 new Domino’s stores and entry in three new cities, Domino’s network expands to 1,888 stores across 397 cities, Jubilant FoodWorks said in its exchange filing. The company said its growth was driven by Domino’s Delivery channel sales which increased by 7.9 per cent. The average daily sales (ADS) of mature