Shares of Jubilant FoodWorks zoomed 6.6% to their day’s high of Rs 641.50 on the BSE even as the company on Monday posted a profit after tax (PAT) of Rs 66.53 crore, marking a 31.5% year-on-year (YoY) decline.Despite the drop in profit, the company's revenue grew by 43% YoY.The revenue from operations for the reporting quarter stood at Rs 1,954.70 crore against Rs 1,368.63 crore in the year-ago period.The total income also surged to Rs 1,984.93 crore, up from Rs 1,375.69 crore reported in the corresponding period of the previous financial year.Jubilant Foodworks’ EBITDA was reported at Rs 398.6 crore for the July-September quarter, up by 43.8% YoY and 4.1% QoQ, while the EBITDA margin stood at 20.4%, an increase of 14 bps YoY.The company added 73 stores in the quarter, making the total store count stand at 3,120 stores.New customer acquisition for Domino’s India growth (29% yoy) continued to be at an elevated level and the copy posted its record high monthly active users (MAU)at 1.28 crore (+18.5% YoY), the highest ever app conversion and app installs at 1.09 crore.Also read: Q2 results today: Hyundai, Nykaa among 540 companies to announce earnings on TuesdayPost the company's Q2 update, domestic brokerage firm Nuvama hiked its target price on the stock to Rs 631 from an earlier Rs 568 while reiterating a hold rating.“Jubilant's positive LFL growth in Q2FY25 has set it apart in a challenging market. The company's focus on delivery and innovative strategies has fuelled this success,” said Nuvama in its report.Jubilant's strategic moves to stimulate consumption, from revamped menus to free deliveries, are paying off, revitalising both delivery and dine-in businesses. “While the current trajectory necessitates slight adjustments to our FY25E/26E revenue (-1.1/-0.3%) and PAT (-5.7%/- 0.6%) projections, we remain bullish on the company's turnaround potential,” the global brokerage firm said.The shares of Jubilant FoodWorks closed 0.86% lower at Rs 601.85 on the BSE in the previous session.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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