As of 11:30 AM, Jubilant FoodWorks shares were trading firmly in the green at ₹450. The buying momentum was accompanied by a sharp rise in trading volumes. According to NSE data, around 7 million shares of the Domino’s Pizza operator in India changed hands, surpassing the previous session’s total quantity of 6.6 million shares.
According to an exchange filing, Jubilant Foodworks’ revenue from operations on a consolidated basis came in at ₹25,693 million, up 14.1 per cent Y-o-Y. On a standalone basis, the revenue came in at ₹18,485 million, up 9.2 per cent Y-o-Y.
The company said that Domino’s India recorded a Like-for-Like (LFL) growth of 2.5 per cent in the June quarter. Its Domino’s Eurasia reported LFL growth of -1.3 per cent (post Ind AS 29).
Domino’s India added 58 new stores, ending the quarter with 2,513 stores, while Domino’s Eurasia added eight new stores, taking its total store count to 795.
Post business update, Motilal Oswal Financial Services has maintained a ‘Neutral’ view on the stock for a target price of ₹475, implying an upside of 8 per cent from the previous close of ₹438.25. The brokerage said that the company’s revenue grew in line with its estimate and that LFL growth at 2.5 per cent was impressive.
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