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Jubilant Foodworks Hits All-Time High After Q1 Results

By Staff
|

On Wednesday, shares of Jubilant Foodworks, the operator of Domino's Pizza and Dunkin' Donuts chain in India, rose over 6 percent to hit an all-time high of Rs 2,286.30 after the company released its results for the June-ended quarter.

Jubilant Foodworks Hits All-Time High After Q1 Results
 

The company posted a consolidated loss of Rs 73.89 crore for the first quarter of 2020-21 when compared to a profit of Rs 71.64 crore in the same period of the previous year.

Revenue from operations fell 59 percent year-on-year to Rs 3,884.41 crore.

"The Covid-19 situation across the country continued to adversely affect the normal operations (including dine-in) of the restaurants resulting in lower sales and profits, partially offset by various cost-saving measures taken by the group," Jubilant FoodWorks said in a release.

In the quarter under review, the company witnessed a deferred tax credit of Rs 23.30 crore against Rs 2.48 crore in

The company also said that it negotiated several rent concessions. An amount of Rs 29.65 crore related to concessions has been reduced from rent expense included under other expenses. After adjusting the rent expense for the quarter amounting to Rs 9.35 crore, the net rent savings accounted in other expense is Rs 20.30 crore.

Its EBITDA was down 89 percent in the June-ended quarter to Rs 24.6 crore from the same period a year ago and EBITDA margin fell to 6.3 percent from 23 percent.

Its delivery channel saw growth of 110.9 percent like-for-like while takeaway saw 161 percent growth.

Shares largely gained on its strong cash position and debt-free balance sheet.

Read more about: jubilant foodworks
Story first published: Wednesday, September 2, 2020, 15:52 [IST]
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