Barbeque-Nation Hospitality Ltd, a quick-service restaurant operator, has reported a net loss of INR 11.60 crore for the fourth quarter ending on March 31, 2023. In a regulatory filing, the company stated that during the same January-March period of the previous year, they had posted a net profit of INR 0.48 crore.
In the quarter under review, Barbeque-Nation Hospitality Ltd recorded a revenue from operations of INR 280.23 crore, reflecting a growth of 11.64 percent. This figure surpasses the revenue of INR 251 crore generated during the same period in the previous fiscal year.
In Q4/FY23, the total expenses of the company amounted to INR 240.36 crore, indicating a growth of 16.41 percent.
The company’s total revenue in the March quarter reached INR 282.47 crore.
For the fiscal year ending in March 2023, Barbeque-Nation recorded a net profit of INR 19.14 crore, a significant improvement compared to the net loss of INR 25.19 crore reported in FY22.
Its revenue from operations in FY23 experienced a remarkable surge, skyrocketing by 43.36 percent to reach INR 1,233.75 crore.
“During the year, the Company added 39 new restaurants resulting in total count of 216. Total restaurants included 14 Toscano restaurants, 6 Barbeque Nation international restaurants and balance 196 were Barbeque Nation India network,” said an earning statement from the company.
In addition, the board of Barbeque-Nation approved the acquisition of an additional 4.21 percent of the paid-up share capital of Red Apple Kitchen Consultancy Private Limited, a subsidiary of the company, from its existing shareholders.
Following this transaction, the ownership stake in Red Apple Kitchen, the company behind the Toscano brand, will rise to 82.43%. Red Apple Kitchen currently manages 14 Italian cuisine restaurants.
