India's Barbeque-Nation more than doubles Q2 profit on dine-in rebound

United Foodbrands

09/11/2022 09:25

BENGALURU, Nov 9 (Reuters) - Indian restaurant chain
Barbeque-Nation Hospitality Ltd  BARQ.NS  more than doubled its
second-quarter profit as more people went out to restaurants
post the pandemic-induced curbs. 
    Consolidated net profit jumped 143% to 70.9 million Indian
rupees ($872,755.03) for the three months ended Sept. 30 from
29.2 million rupees a year ago, an exchange filing on Wednesday
showed.
    Revenue from operations rose 40.3% to 3.10 billion rupees,
from 2.21 billion rupees a year ago. 
    The growth was supported by improvement in the dine-in
business, coupled with the robust performance of both Toscano
and BARQ's international businesses, Chief Executive Officer
Rahul Agrawal said in a statement.
    The company, known for its "over the table" live barbeque
grills, also owns Italian restaurant chain Toscano.
        Restaurants in India have seen an increase in business
this year, with people slowly returning to offices under hybrid
work arrangements and venturing out more.
        Domino's Pizza's  DPZ.N  India franchisee Jubilant
FoodWorks Ltd  JUBI.NS  on Tuesday reported a 10% increase in
quarterly profit on dine-in demand.
($1 = 81.2370 Indian rupees)
 (Reporting by Anisha Ajith in Bengaluru; Editing by Janane
Venkatraman)
 ((anisha.ajith@thomsonreuters.com;))