Stocks

Jubilant Foodworks gains over 2% on Q4 earnings

BL Internet Desk May 9 | Updated on May 09, 2018 Published on May 09, 2018

The company, which operates Domino's Pizza brand, has reported over 10-fold increase in standalone net profit at Rs 68.06 crore for the quarter ended March 31, 2018,

Shares of Jubilant Foodworks Ltd extended gains to rise as much as 2.1 per cent to Rs 2,614.4 on robust earnings.

The company, which operates Domino's Pizza brand, had on Tuesday, reported over 10-fold increase in standalone net profit at Rs 68.06 crore for the quarter ended March 31, 2018, owing to strong same-store growth and product upgrades.

The standalone net profit stood at Rs 6.71 crore in the corresponding quarter of the previous fiscal. Operating revenues grew 27.25 per cent to Rs 779.82 crore in the fourth quarter.

After opening the session at Rs 2,593.35 against the previous close of Rs 2,560.30, the stock touched an intraday high of Rs 2,643.20 and a low of Rs 2,560. In terms of equity volume, 1.16 lakh shares exchanged hands in the morning trade.

HSBC Global Research has upgraded the stock rating to “buy”, raised the target price to Rs 2,950 from 2,605, stating growth momentum will continue in FY19.

Citi Research states the company’s focus on innovation and customer experience augur well for medium- to long-term prospects. It has retained “buy” rating, and raised the target price to Rs 2,950 from Rs 2,500.

Deutsche Bank has raised the price target to Rs 2,975 from Rs 2,600, and retained “buy” rating. Of the 31 brokerages covering the stock, 20 have a “buy” or higher rating, eight have “hold” rating and three have “sell” or lower rating; their median target price is Rs 2,647.50, according to Thomson Reuters Eikon.

(With inputs from Reuters)

Published on May 09, 2018

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.