Barbeque Nation Reports a Loss of Rs 11.92 Crore in Q2 as It Slides Into the Red

Barbeque Nation Hospitality has reported a loss of Rs 11.92 crore on a consolidated basis in the second quarter ending in September 2023. This is a significant shift from the Profit After Tax (PAT) of Rs 7.53 crore the company reported in the same period the previous year, as disclosed in a regulatory filing.

The company's total income from operations for the quarter decreased to Rs 305.9 crore, down from Rs 312 crore in the corresponding period of the previous year. However, Barbeque Nation's total expenses increased to Rs 257.3 crore during the second quarter, compared to Rs 252.2 crore in the same period of FY 2022-23.

In a separate announcement, the company, which operates 212 restaurants within its portfolio, mentioned that it opened four new restaurants while closing four others in the second quarter of FY24. Recently, Barbeque Nation Hospitality Ltd (BNHL) and Red Apple Kitchen Consultancy Pvt Ltd (Toscano) jointly acquired a majority stake of 53.3 percent in Blue Planet Foods Private Ltd (Salt).

Blue Planet Foods operates a pan-Indian cuisine restaurant chain known as 'Salt,' offering a-la-carte dining. Currently, Salt runs six restaurants and has two more under construction.