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.
Shares of Barbeque Nation settled 10 per cent higher at Rs 1029.15 apiece on the BSE.