In an otherwise very strong market, Jubilant Foodworks is the top loser, down 9% at Rs.1076, with an intra day low at Rs.1065.

The market is extremely disappointed with the company’s performance for Q1FY17. Its net profit came down 31% (YoY) at Rs.19 crore on a 7% drop in total income at Rs.609 crore. The company’s expenditure rose on account of higher employee cost, mainly due to wage increase and annual increments. Rental increase and over higher operating expense dented the margins.

EBITDA came in lower 14% at Rs.58 crore while margins dropped significantly from 11.8% to 9.5%.