Barbeque Nation's share price hit upper circuit on May 25Barbeque Nation
Barbeque Nation's share price has jumped by 20% after the casual dining chain announced its fourth-quarter results on May 24.
Investors can still sell their shares at the upper limit of ₹ 767.50.
The casual dining restaurant chain plans to open up 20 outlets in the ongoing financial year and double down on its delivery business as well.
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Barbeque Nation’s share price jumped by 20% on May 25 and hit the upper circuit on Indian stock exchanges, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
After hitting the 20% upper limit of ₹ 767.50, the share price dropped after sellers came into the picture to book their profits. Between the 20% limit, upper and lower, investors can continue to trade.
The jump in the restaurant franchise’s share price comes after one day after it posted its fourth-quarter earnings, which put the company back in the green. After reporting a loss since the first quarter of the financial year, due to the impact of the pandemic, Barbeque Nation nation posted a profit of ₹64.06 crore.
Alongside profit, the company’s revenue also grew 18.5% as compared to the same quarter last year. And its earnings before interest, taxes, depreciation, and amortisation (EBITDA) has more than doubled to ₹56.1 crore.
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According to the management, the addition of the delivery vertical to its business has opened up a new market of customers. Those who wouldn’t normally come to dine in restaurants now have access to Barbeque Nation’s food, at reasonable prices, at home.
And the company's ‘Barbeque in a Box’ offering has been one of the growth drivers in the delivery segment.
The casual dining restaurant chain plans to open up 20 outlets in the ongoing financial year and double down on its delivery business as well.
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