Jubilant FoodWorks Q2 Results: Net profit rises 58% YoY to Rs 121.5 crore, beats estimate
The company reported a 36.6 per cent on-year growth in revenue from operations to Rs 1,100.7 crore for the reported quarter, which was also above the Street’s estimate.
During the quarter ended September, the company saw a 43 per cent jump in cost of raw material to Rs 227 crore. The growth in input costs was significantly higher than the growth in revenues.
Jubilant Food said that it undertook one-time loss of Rs 1.25 crore to support its employees affected by the COVID-19 pandemic during the quarter. The same one-time cost was Rs 5.6 crore in the previous quarter.
The company reported a 33 per cent year-on-year increase in operating profit to Rs 290 crore in the reported quarter. However, the operating margin shrank 67 basis points on-year to 26 per cent on account of higher input costs.
EBITDA was 14 per cent above estimate on higher gross margin and lower employee costs. EBITDA was 5 per cent above consensus estimate, said brokerage firm Edelweiss Securities in a note.
Shares of Jubilant FoodWorks were down 3.7 per cent at Rs 4,169.55 on the National Stock Exchange.