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The company clocked a 4% increase in net profit, which stood at ₹4.53 crore for Q2 of the ongoing financial year. This compared to a net profit of ₹4.34 crore in the corresponding quarter of the previous year.
The company’s revenue saw a slight decline of 0.6% year-on-year at ₹328.9 crore, down from ₹330.9 crore in Q3 of the previous fiscal year.
Shares of Barbeque Nation fell 6.2% on the BSE during Monday’s trade to touch an intraday low of ₹303.85 apiece.The company’s earnings before interest, taxes, depreciation, and amortisation (Ebitda) also dropped by 7.2% YoY in the quarter under review to ₹61.5 crore, as against ₹66.3 crore during the same period last year. The EBITDA margin for the quarter stood at 18.7%, down from 20% in the year-ago period.
Barbeque Nation said that it will undertake efficient cost controls to drive operating marginsThe board of the company has approved the allotment of 800 equity shares having a face value of ₹5 each against the exercise of vested Employee Stock Options granted under ESOP Plan 2015.
“These shares shall rank pari-passu, in all respects with existing Equity Shares of the Company. The Company has already received in-principle approval from BSE Limited and National Stock Exchange of India Limited (“Stock Exchanges”) for the ESOP Plan 2015 and is in the process of seeking the final listing and trading approvals of the Stock Exchanges for the Equity Shares allotted, as aforesaid,” Barbeque Nation said in a filing on Monday.
Barbeque Nation said that it had added four new restaurants to its network in the December quarter, taking the total tally to 190. The near-term outlook of the company includes driving its network expansion of 8-10%.
The company also said that it will establish its brand Barbeque Nation as the preferred “celebration destination” in India.
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