Shares of Jubilant Foodworks, which operates three international brands, Domino’s Pizza, Dunkin' Donuts, and Popeyes, continued losing streak for the second straight session on Thursday and touched a 2-year low in intraday trade as investors weighed weak operational performance in the December quarter of the current fiscal. Weighed down by disappointing Q3 results, the stock declined as much as 12.7% in two sessions to hit a low of ₹425 on the BSE, its lowest level last seen in December 2020.

On Thursday, Jubilant Foodworks shares opened 2.5% lower at ₹444.95 against the previous closing price of ₹456.60 on the BSE. During the session, the stock declined as much as 6.9% to ₹425, before setting at ₹435.85, down 4.54%. At the end of the day’s trade, the market capitalisation of the company stood at ₹28,759 crore. In comparison, the BSE Sensex ended at 59,932, up 224 points, or 0.38%.

Jubilant Foodworks has delivered a negative return of 31.75% in the last one year, while it fell 24% in the past six months. The stock dropped more than 24% in a month, while it skid nearly 12% in a week. The counter has fallen 40% from its 52-week high of ₹706.75 touched on February 2, 2022.

For the three month ended December 31, 2022, Jubilant Foodworks posted consolidated profit after tax (PAT) at ₹80.4 crore, down 39.7% from ₹133.2 crore in the year-ago quarter. The revenue from operations rose 10% to ₹1,332 crore in Q3FY23, from ₹1,210.8 crore in the corresponding period last year.

The operating profit or EBITDA slipped 10.2% to ₹286.4 crore, from ₹319.1 crore a year ago. EBITDA margins also dropped to 21.5% as compared to 26.4% in the year-ago quarter amid inflationary pressure.

Sameer Khetarpal, CEO and MD, Jubilant FoodWorks said, “We reported modest top-line growth as LFL growth for Domino’s was flat. This, along with historic high inflation, resulted in margin compression. We have sharpened our strategy to get growth back in the business. Our renewed priorities include - Customer first, Data and technology forward, Operational excellence and Foundation of people and culture. We are confident that the interplay of these sets of priorities will not only help us navigate current headwinds but will help us capitalise on the immense potential of the food service industry.”

Follow us on Facebook, Twitter, YouTube & Instagram to never miss an update from Fortune India. To buy a copy, visit Amazon.