Net income jumped 86 percent to 193.3 million rupees ($4.3 million) in the three months ended March 31, the company said in a filing. That’s less than the mean estimate of 195.6 million rupees in a Bloomberg survey of five analysts.
“The quarter witnessed an increase in food and employee costs to the level of general inflation during the period,” the company said in the filing.
Jubilant’s stock tumbled 8 percent to 676.55 rupees as of 2:53 p.m. in Mumbai, set for its lowest close in a week. The shares have gained 8 percent this year, compared with a 12 percent slide in the 283-member BSE Mid-Cap Index. (BSEMDCAP)
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