Barbeque Nation Revenue Soars 195% In June Quarter, Stock Gains 10%
Share price of Barbeque Nation surged more than 10 per cent on Wednesday, August 4, to touch a 52-week high of Rs 1,029.15, a day after the leading casual dining restaurant chain announced its April-June quarter results for the financial year 2021-22. On Wednesday, Barbeque Nation opened on the BSE at Rs 933, swinging to an intra day high of Rs 1029.15 and an intra day low of Rs 930.75. The company reported a net loss of Rs 42.6 crore on a consolidated basis in the first quarter of the current fiscal, compared to a net loss of Rs 59.6 crore in the corresponding period last year.
The company's revenue from operations in the Juen quarter stood at Rs 102 crore, registering an increase of 941 per cent compared to the revenue in the year-ago period. The surge in revenues was mostly driven by the base effect as the corresponding quarter last year was impacted by the nationwide COVID-19 lockdown in the country.
The company reported a consolidated sales recovery of 48 per cent in the Juen quarter, compared to the corresponding period last year. The company opened two new restaurants, four extension kitchens, and eight restaurants are under construction.
'While this quarter was a similar situation to Q1 FY21 we were better prepared and our diversification strategy have helped mitigate the decline in revenues. We have transformed Barbeque Nation from a casual dining restaurant chain to a diversified food services company, focusing on building a strong delivery business and develop our digital assets,' said Mr. Kayum Dhanani, Managing Director, Barbeque Nation.
On the NSE, Barbeque Nation opened at Rs 935, registering an intra day high of Rs 1027.05 and an intra day low of Rs 932.05.Â
Shares of Barbeque Nation settled 10 per cent higher at Rs 1029.15 apiece on the BSE.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
