update

Jubilant Food Q1 net down 19%, same store sales contracts

     Jubilant Foodworks , which operates Domino's pizza chain in India, missed street expectations on every parameter with the first quarter (April-June) net profit falling 18.5 percent to Rs 27.7 crore compared to Rs 34 crore in the year-ago period, impacted by weak operational performance.
     Same-store-sales (SSS) growth contracted at 2.4 percent in the first quarter of current financial year 2014-15 compared to 6.3 percent growth in same quarter last year. SSS growth has been in negative for the third consecutive quarter followed by negative 3.4 percent in Q4FY14 and negative 2.6 percent in Q3FY14.
     During the quarter, operating profit (EBITDA) of the company dropped 11.5 percent on yearly basis to Rs 59 crore and margin declined by 440 basis points to 12.4 percent, which both were expected at Rs 68.3 crore and 14.1 percent, respectively.