Jubilant FoodWorks dropped 13.41% to Rs 2,480 after the company's board accepted the resignation of Pratik Rashmikant Pota as the CEO and whole time director of the company.
The board of directors of Jubilant FoodWorks Limited on Friday accepted the resignation of Pratik Rashmikant Pota as the CEO and wholetime director as he wishes to pursue opportunities, the firm said in a statement. Pota will continue in his current role till 15 June. The board has also initiated the process of identifying his successor, it added.
Jubilant FoodWorks is a foodservice company. It holds the exclusive master franchise rights from Domino's Pizza Inc. to develop and operate the Domino's Pizza brand in India, Sri Lanka, Bangladesh, and Nepal. JFL also enjoys exclusive rights to develop and operate Dunkin' restaurants in India and Popeyes restaurants in India, Bangladesh, Nepal and Bhutan.
The QSR chain operator reported 9.8% growth in net profit to Rs 1,373 crore as revenue from operations rose by 12.9% to Rs 11,935 crore in Q3 FY22 over Q3 FY21.
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