Jubilant FoodWorks shares drop 7% as CEO steps down

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.