Barbeque Nation posts Q4 loss of Rs 11.60 cr, revenue up 11.6% to Rs 280 cr

Express service operator Barbeque-Nation Hospitality Ltd reported a net loss of Rs 11.60 crore for the fourth quarter ended 31st March 2023.

Barbeque-Nation Hospitality said in a regulatory filing that the company posted a net profit of Rs 0.48 crore during the January-March period last year.

Its revenue from operations increased by 11.64% to Rs.280.23 crore during the quarter under review as against Rs.251 crore in the corresponding period of the previous financial year.

The company’s total expenses were Rs.240.36 crore, up by 16.41 per cent in Q4/FY23.

Its total revenue in the March quarter was Rs. 282.47 crore.

However, for the financial year ending March 2023, Barbeque-Nation has recorded a net profit of Rs.19.14 crore. It recorded a net loss of Rs. 25.19 crore in FY22.

Its revenue from operations increased by 43.36% to Rs.1,233.75 crore in FY23.

“During the year, the company added 39 new restaurants, resulting in a total number of 216 restaurants, the total number of restaurants included 14 Toscano restaurants, 6 Barbeque Nation international restaurants, while there were 196 Barbeque Nation India restaurants,” said the company’s earnings release.

Meanwhile, its Board of Directors has also agreed to acquire an additional 4.21 per cent of the paid-up share capital of Red Apple Kitchen Consultancy Private Limited, a subsidiary of the Company, from the existing shareholders.

After that, the shareholding will rise to 82.43 percent in Red Apple Kitchen, which operates 14 Italian cuisine restaurants under the Toscano brand.