Jubilant FoodWorks plummets as margins contract in Q3
04th February 2013 03:18 PM
Jubilant FoodWorks, operator of Dominos Pizza stores, plunged on Monday after lower-than-expected profit and margins for third quarter of fiscal 2013 raised concern over sustainability of high stock valuation.
The company announced a growth of 27.91% in net profit to Rs 377.01 million for the quarter ended Dec. 31, 2012 as compared to Rs 294.75 million in the year ago period.
The companyreporteda fall of 165 bpsin operating margins to 13.81% as compared with 15.46% for last year period.
Net sales increased by 39.02% to Rs 3.85 billion for the quarter ended Dec. 31, 2012 as compared to Rs 2.77 billion in the year ago period.
Shares of the company are trading at Rs 1,144, down Rs 52.75, or 4.41% at the Bombay Stock Exchange (BSE) on Monday at 2:29 p.m.
With fall of over 4%, the compay's market capitalisation decreased by Rs 4.09 billion to Rs 73.94 billion.
Total volume of shares traded on the bourses today was higher by 323.08% to 1,236,550 compared with 22-day average volume of 292,271.
The scrip has touched an intra-day high of Rs 1,210 and low of Rs 1,127.
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