Barbeque Nation Hospitality soars 2.5% after healthy Q3FY22 earnings

4 Feb 2022 , 09:16 AM

Barbeque Nation Hospitality Ltd, one of the leading food services company in India has announced its Q3 FY22 results.

Q3 FY22 Highlights

• Revenue from operations of Rs286.7cr, an increase of 47.1% vs. Q3FY21
• Same store sales growth of 42.7%
• Delivery revenue of Rs46.6cr, an increase of 64.4% over Q3 FY21
• Consolidated sales recovery of 123% in Q3FY22 as compared to the same period in FY20
• Reported EBITDA of Rs70.2cr, an increase of 41.1% over Q3 FY21
• Opened 7 new Barbeque Nation restaurants and 4 extension kitchens in Q3FY22
• Own digital assets contribution of ~25% in Q3FY22
• Transforming from a casual dining restaurant chain into a food services company

Commenting on the business, Kayum Dhanani, Managing Director, said, “With the receding impact of the pandemic coupled with increased vaccination, we are experiencing improvement in the demand. Later part of December and January experienced some restrictions due to new variant but anticipate relaxation going forward, which will support our strong recovery trend. The dine in business made a robust recovery and our delivery vertical also contributed to our growth and has already achieved 2x of FY21 revenues.

This strong performance has resulted recorded best ever topline and EBITDA in the history of the Company. Our various initiatives, including transformation to a food services company has started yielding positive results and is anticipated to provide further impetus to our growth journey going forward.”

Commenting on the performance, Rahul Agrawal, CEO, said: “The gradual lifting of restrictions across the country has supported our recovery journey for the quarter. Of the total 174, over 90% of our outlets were fully operational during the quarter. This has led us to registering a robust growth in the dine-in segment as well as delivery segment.

Our revenues have grown at 47% and profitability also improved significantly during the quarter with over 41% y-o-y growth in EBITDA. In continuation of our strategy to expand our reach, we have added 7 new restaurants during the quarter. We are on track to open 20 restaurants by end of the financial year and will also continue to invest in our digital platform, which will further augment our growth journey.”

On Friday early morning trade, Barbeque Nation was trading at Rs1507 per share higher by 2.63% on Sensex.