On 25th May, Barbeque Nation’s share price has jumped to 20% and it hits the upper circuit on Indian stock exchanges, the National Stock Exchange (NSE), and the Bombay Stock Exchange (BSE).
Around 20% movement in share price at any point of time during the daytime means that the trading will be halted for the remainder of the day. However, this means that no order to buy or sell the stock which can’t be incorporated.
However, this jumped in the restaurant franchise’s share price that comes after one day after it has posted its fourth-quarter earnings is now putting the company back in the green. Soon after the reporting, there was a loss since the first quarter of the financial year because of the impact of the pandemic. Now, Barbeque Nation has also posted its profit of Rs. 64.06 crore.
Along with the profit, the company’s revenue is now growing 18.5% when compared to the same quarter in the last year. Further, its earnings before interest, taxes, depreciation, and amortization which has now more than double fo the amount of Rs. 56.1 crore.
As per the management, the addition of the delivery vertical to its business has now opened up a new market for the consumer. Those who wouldn’t normally come to dine in restaurants now must have access to barbeque nation’s food at a quite reasonable price, at home.
Well, the company’s best “Barbeque in a Box” that is offering has been one of the growth drivers in the delivery segment. However, the casual dining restaurant chain plans to open up 20 outlets in the ongoing financial year and it double down based on its delivery business also.