Earnings are a miss due to subdued LFL, although cool down in inflation may be the break in the clouds
Jubilant Foodworks reported a sales growth of 8.2% YoY at ? 12,523mn during Q4FY23 over ? 11,579mn, failing to impress with flat LFL of (0.6%). The weak LFL impacted the margins leading to a decline of 210bps and 520bps in the EBITDA and PAT margins respectively (EBITDAM – 21.2% and PATM – 2.2%).