Jubilant foodworks surges over 6% on strong q1 results

Jubilant Foodworks surges over 6% on strong Q1 results

Jubilant Foodworks gained as much as 6.6% to Rs 1,242 on BSE after the company beat street expectations to report a 25% rise in net profit for the quarter ending June 2017.

The company posted net profit of Rs 23.84 crore as compared to Rs 18.99 crore in the corresponding period of the previous year.

Revenue from operations for the firm witnessed a rise of 11.5% to Rs 679 crore, while earnings before interest, taxes, depreciation

and amortisation (EBITDA) stood at Rs 79.6 crore. The operating margin was reported at 11.7% for Q1.

It also allotted 5,500 equity shares under the Domino's Employee Stock Option Plan 2007 at a premium as per respective grants and also 27,420 equity shares under JFL employees stock options.

The company informed the bourses that its Chief Financial Officer (CFO) and President Sachin Sharma, has resigned from the firm.

At 1:59 pm, the scrip was up 5.7% at Rs 1,228.65 on BSE as against 0.2% rise in BSE Sensex. The stock touched an intra-day high and intra-day low of Rs 1,242 and Rs 1,161.

In July so far, the stock has outperformed the benchmark indices, up 29.75% against a 3.8% rise in S&P BSE Sensex.

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ARTICLE SOURCE – BUSINESS STANDARD