Jubilant FoodWorks share price hits new life high amid robust growth outlook; stock jumps 35% in a month
Surging for over 7 per cent, the shares of Jubilant FoodWorks (JFL) on Wednesday touched a new life high of Rs 4,166.40 on the BSE intraday trade on the back of strong growth prospects. The counter in the last one month has jumped over 35 per cent from Rs 3083 per share amid strong Q1 numbers.
Surging for over 7 per cent, the shares of Jubilant FoodWorks (JFL) on Wednesday touched a new life high of Rs 4,166.40 on the BSE intraday trade on the back of strong growth prospects. The counter in the last one month has jumped over 35 per cent from Rs 3083 per share amid strong Q1 numbers.
The quick-service restaurant (QSR) company reported a consolidated net profit of Rs 69.06 crore in the June-ended quarter of the financial year 2021-22, mainly led by higher revenues despite the second wave of Covid-19 disrupting operations.
See Zee Business Live TV Streaming Below:
While the company’s revenue from operations during the quarter was reported at Rs 893.19 crore as against Rs 388.41 crore in the same quarter year ago during the first wave of covid-19. Its margins remained unchanged at 24.1 per cent in Q1FY22 from 24.3 per cent in Q4FY21.
During its result release, the management had said that the worst is behind them and confident of delivering strong, sustained growth in the periods ahead with vaccinations well underway.
On August 10, 2021, the rating agency CRISIL Ratings had reaffirmed its 'CRISIL A1+' rating on the commercial paper programme of Jubilant FoodWorks.
It had said, "The rating continues to reflect an established market position in the QSR segment, robust supply-chain network, supportive changes in the operating environment and a strong financial risk profile. These rating strengths are partially offset by the concentration of profitability to Domino’s Pizza and susceptibility of profitability to competitive intensity and cost pressures,"
Jubilant FoodWorks is India’s largest foodservice company, with Domino’s Pizza, Dunkin’ Donuts, and Popeyes outlets. It’s Domino’s franchise extends a network of 1,380 restaurants in 298 cities and has exclusive rights to develop and operate the brand in India, Sri Lanka, Bangladesh and Nepal.
At around 01:52 pm, the stock was trading over 4.5 per cent higher to Rs 4068.85 per share on the BSE as compared to 0.25 per cent decline in the S&P BSE Sensex.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.