Shares of JFL were trading 3.89 per cent down at Rs 1,099.40 on BSE
The stock dipped 8% to Rs 1,055 after the EBITDA margin declined 62 basis points to 9.7% in Q2FY17.
Quick service restaurants are fighting to keep growth intact as the overall consumer appetite for discretionary spending wanes
With two top exits and uncertainty on growth strategy, stock likely to remain under pressure
In terms of volume, 4.64 lakh shares of the company were traded on the BSE and over 53 lakh shares changed hands at the NSE during the day
The stock slipped 8% to Rs 924 on the BSE in early morning trade on back of heavy volumes.
The move comes following Jubilant Foodworks's weak SSG performance for the first quarter of FY 2017
A decline of 3.2 per cent is the lowest in seven quarters for the food service major.
The company reported 31.08% fall in its June quarter net profit to Rs 19 crore
Subdued demand, high promotions to weigh on margin
Jubilant FoodWorks dipped 12%, while Westlife Development fell 10% on the BSE in intra-day trade.
Jubilant Consumer, promoter of Jubilant FoodWorks, sold 2.4 million shares at price of Rs 1,279.37 on NSE
About 2.39 million equity shares of Jubilant FoodWorks changed hands on the NSE.