Shares of Jubilant FoodWorks Ltd. dropped as analysts cut price targets for the operator of Domino’s Pizza and Dunkin’ Donuts in India after its third quarter missed estimates.
Its net income rose 9.6% over the year earlier to Rs 137.33 crore in the three months through December, according to an exchange filing. That compares with the Rs 163-crore consensus estimate of analysts tracked by Bloomberg.
Q3 FY22 Highlights (Standalone, YoY)
Revenue up 13% to 1,193.50 crore, against the estimated Rs 1,270 crore.
Total costs rose 12% to Rs 1,021.31 crore.
Ebitda up 14% to Rs 317 crore, compared with the Rs 325-crore forecast.
Approved splitting each share into five. Record date will be intimated soon.
Analysts, however, remained optimistic on the medium-to-long term prospects of the company as the growth trajectory is likely to see an uptick as restrictions gradually ease.
Shares of Jubilant FoodWorks fell nearly 6.5%, the steepest intraday decline in five sessions, to Rs 3,089.65 apiece around noon on Thursday. The stock, however, closed with 3.46% losses. Over the last two sessions, it has shed more than 7%.