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India's Jubilant FoodWorks slips as inflation eats into Domino's growth

By Reuters News

** Shares of Jubilant FoodWorks JUBI.NS, operator of Domino's Pizza in India, fall 3.65% to 434.45 rupees

** Stock on track for biggest daily percentage drop since May 12, if trend holds

** Co reports largely flat consolidated profit from continuing operations at 1.14 billion rupees ($12.14 million), even as revenue rises 11.8% y/y

** Quarterly expenses rise 12.9%, with co flagging inflationary pressure of about 200 basis points from higher LPG, wages and raw material costs

** Motilal Oswal ("buy", TP: 625 rupees) flags weak demand in Turkey, where sales at existing Domino's and Coffy stores declined; says higher taxes weighed on profits

** JUBI rated "buy" on average by 27 analysts, median PT at 570 rupees--LSEG-compiled data

** YTD stock down 22.12%



($1 = 93.9000 Indian rupees)

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