Barbeque-Nation Q2 net profit increases y-o-y by 143% to Rs 7.09 crore

10 Nov 2022 , 09:17 AM

Barbeque-Nation Hospitality Ltd, a chain of restaurants in India, had a more than twofold increase in second-quarter profit as more customers returned to eateries after the pandemic’s bans.

According to a statement with the exchange on Wednesday, the combined net profit increased by 143% to Rs7.09 crore ($872,755.03) for the three months that ended on Sept. 30 from Rs 2.92 crore a year earlier.

Operating income increased by 40.3% to Rs310 crore from Rs221 crore in the prior year. Chief Executive Officer Rahul Agrawal stated that the improvement in the dine-in business, along with the strong performance of both Toscano and BARQ’s foreign businesses, helped to support the rise.

The business also owns the Italian restaurant brand Toscano. It is well recognized for its “over the table” live barbecue grills. Due to individuals gradually returning to offices under hybrid work arrangements and going out more, restaurants in India have noticed an upsurge in business this year.

Jubilant FoodWorks Ltd., the Domino’s Pizza franchisee in India, reported a 10% increase in quarterly profit on the back of increased dine-in business on Tuesday.

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