Barbeque-Nation Q1 results: Consolidated loss narrows to Rs 43 crore; sales soar 941%
The surge in revenues in the quarter is largely down to base effect as the year-ago quarter was adversely affected by the national lockdown to contain the spread of Covid-19 in the country.
By ETMarkets.com |
iStock
MUMBAI: Newly-listed company Barbeque-Nation Hospitality today reported a consolidated net loss of Rs 42.6 crore for the quarter ended June as against a net loss of Rs 59.6 crore in the year-ago quarter.
The company’s consolidated revenue from operations soared 941 per cent year-on-year to Rs 102 crore in the reported quarter.
The surge in revenues in the quarter is largely down to base effect as the year-ago quarter was adversely affected by the national lockdown to contain the spread of Covid-19 in the country.
In the June quarter, the second wave of the pandemic took its toll on the business but the impact was partially mitigated by the continued rise in take-outs and online delivery.
On the operating front, the quick-service restaurant company saw its operating loss narrow to Rs 17.8 crore in the quarter ended June from Rs 36.1 crore a year ago.
On a sequential basis, the company’s consolidated revenues tanked 55 per cent, reflecting the damage caused by a brutal second wave of the pandemic.
Shares of Barbeque Nation were trading 3.9 per cent higher at Rs 925 on the National Stock Exchange.
The company’s consolidated revenue from operations soared 941 per cent year-on-year to Rs 102 crore in the reported quarter.
The surge in revenues in the quarter is largely down to base effect as the year-ago quarter was adversely affected by the national lockdown to contain the spread of Covid-19 in the country.
In the June quarter, the second wave of the pandemic took its toll on the business but the impact was partially mitigated by the continued rise in take-outs and online delivery.
On the operating front, the quick-service restaurant company saw its operating loss narrow to Rs 17.8 crore in the quarter ended June from Rs 36.1 crore a year ago.
On a sequential basis, the company’s consolidated revenues tanked 55 per cent, reflecting the damage caused by a brutal second wave of the pandemic.
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Shares of Barbeque Nation were trading 3.9 per cent higher at Rs 925 on the National Stock Exchange.
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