Jubilant FoodWorks shares drop 7% as CEO steps down

Kaul will continue his role till March 2017.

Jubilant FoodWorks shares drop 7% as CEO steps down
As per the regulatory filing, the company's net profit fell 31% to Rs 19 crore in Q1FY17. Photo: Official website
By ZeeBiz WebTeam
Updated: Tue, Sep 20, 2016
10:31 am
Mumbai, ZeeBiz WebDesk
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The shares of Jubilant FoodWorks dropped 7% after the company accepted the resignation of Ajay Kaul, CEO and Wholetime director.

At 1012 hours the shares of the company were trading at Rs 937.75 per piece, down 6.71%, or Rs 67.50 on BSE.

Kaul will continue his role till March 2017.

The company which owns the domestic frenchisee of Domino's Pizza and Dunkin' Donuts, in the last quarter ended on June 30, reported a decline of 3.2% in its same store sales, which is lowest in seven quarters. Last year in the June quarter, the company had posted 4.6% SSG.

As per the regulatory filing, the company's net profit fell 31% to Rs 19 crore in Q1FY17.