Barbeque-Nation Hospitality Ltd Q1FY22 consolidated loss at Rs. 42.63 crore

BARBEQUE-NATION HOSPITALITY LIMITED has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.109.36 crores during the period ended June 30, 2021 as compared to Rs.236.90 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.(42.63) crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.6.19 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.(11.40) for the period ended June 30, 2021 as compared to Rs.1.89 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 109.36 crs	₹ 236.90 crs	-53.84%
Net Profit	₹ (42.63) crs	₹ 6.19 crs	-788.69%
EPS	₹ (11.40)	₹ 1.89	-703.17%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.109.36 crores during the period ended June 30, 2021 as compared to Rs.25.05 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.(42.63) crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.(59.56) crores for the period ended June 30, 2020.

The company has reported EPS of Rs.(11.40) for the period ended June 30, 2021 as compared to Rs.(21.28) for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 109.36 crs	₹ 25.05 crs	336.57%
Net Profit	₹ (42.63) crs	₹ (59.56) crs	-28.43%
EPS	₹ (11.40)	₹ (21.28)	-46.43%

Commenting on the business, Mr. Kayum Dhanani, Managing Director, said: "We have delivered strong performance in Q1 FY22 despite the second wave of pandemic and ensuing lockdowns and restrictions on dine-in businesses. 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. Our top priority has always been our employees and the safety of our guests. We sponsored large scale vaccination drives and I am proud to announce that 100% of our teams across restaurants have received at least one dose of the vaccination."

Commenting on the performance, Mr. Rahul Agrawal, CEO, said: "The strength in our diversification strategy was evident during the quarter with strong growth in our delivery segment. With the dine-in segment facing the brunt of the pandemic induced lockdowns we maintained our momentum of growth in our delivery business, and this reinforces our belief that the delivery segment will allow us to leverage our assets, opening up an incremental business opportunity. We have resumed our focus on network expansion and opened two Barbeque Nation restaurants in the first quarter and have a strong pipeline of under construction restaurants. In line with our strategy to expand delivery segment, we have launched four extension kitchens in July, thereby increasing our points of sale and catering to a larger customer base."

Shares of BARBEQUE-NATION HOSPITALITY LIMITED was last trading in BSE at Rs. 893 as compared to the previous close of Rs. 876.7. The total number of shares traded during the day was 4250 in over 606 trades.

The stock hit an intraday high of Rs. 920.95 and intraday low of 870. The net turnover during the day was Rs. 3821298.

Source : Equity Bulls

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