India's Barbeque-Nation Hospitality slides to 20-month low as Q3 profit halves

United Foodbrands

08/02/2023 04:33

** Shares of dining chain Barbeque-Nation Hospitality Ltd
 BARQ.NS  fall as much as 4.75% to 804.55 rupees — their lowest
since June 3, 2021
    ** Co posts sharpest intraday fall since Jan. 27, 2023
    ** BARQ's Q3 consol net profit more than halved to 65.7 mln
rupees ($794,726.02)
    ** Consol rev from ops rose 14.29% to 3.28 bln rupees
    ** If losses hold, co on track for its fourth consecutive
falling session 
    ** Co shares trading below its 50-day, 100-day and 200-day
moving averages indicating bearish momentum 
    ** Three analysts covering the stock rate it "buy" or higher
while one recommend "hold"; median PT is 1420 rupees 
    ** Stock fell ~33% in 2022 
($1 = 82.6700 Indian rupees)
 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com; +91 9830427878))