Burger King India reported net loss of Rs 44.35 crore in Q1 FY22, lower than net loss of Rs 80.45 crore in Q1 FY21.
The company had recorded a loss of Rs 25.94 crore in Q4 FY21.
Net sales surged 288.9% to Rs 149.73 crore in the first quarter as against Rs 38.50 crore reported in the same period year. Net sales declined 23.6% in Q1 FY22 over Q4 FY21.
Burger King India said that recovery in sales was at 76% by the end of the June quarter when compared to the March quarter as business was substantially impacted due to the second COVID-19 wave leading to lockdown restrictions from early April 2021 in most parts of the country.
The delivery business of the company thrived during pandemic times with average daily sales (ADS) at 157% of the 2020-21 level. The company said that average daily sales in July were at 92% of the 2020-21 level aided by the gradual easing of restrictions in several parts of the country.
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EBITDA was Rs 1.53 crore with an EBITDA margin of 1% in Q1 FY22. The company had reported an EBITDA loss of Rs 29.05 crore in Q1 FY21, with a negative EBITDA margin of 75.5%.
Burger King India said that gross profit margin for Q1 was maintained in excess of 65%. The company opened five new stores during the quarter to take its store count to 270 as on 30 June 2021.
Burger King India set shop in India in November 2014 and has been among the fastest expanding quick service restaurant chains in the country. It is promoted by QSR Asia. The company is the national master franchisee of Burger King in India, with exclusive right and license to develop, establish, operate and franchise Burger King restaurants in India.
The scrip shed 0.96% to end at Rs 170.30 on the BSE on Friday.
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