​Shares of Jubilant FoodWorks have slipped. Know why

Shares of Jubilant FoodWorks Ltd., the maker of Domino's Pizzas, dropped after quarterly profit fell below market's expectations.

Jubilant said its first quarter net profit rose 6.5 percent to 29.5 crore rupees compared with 27.7 crore rupees in the year ago period. Sales during April-June rose 20 percent to 570.7 crore rupees versus 476.8 crore rupees.

As a consequence Jubilant fell 49.15 rupees, or 2.7 percent, 1,770 rupees on the National Stock Exchange where 5.2 lakh shares were traded compared with 2.40 lakh shares as its 5-day average.

Jubilant's market capitalisation has gained 56 percent to 11,743 crore rupees. Jubilant's trades at 18 times its book value of 98.44 rupees.

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