Restaurant Brands Asia, which operates Burger King chain of restaurants, reported a net loss of Rs 39. 93 crore for the December quarter of FY24. The company posted a loss of Rs 55.89 crore in the corresponding quarter of the previous financial year.
Total revenue of the company came at Rs 604.22 crore, rising 14.7 percent from Rs 526.33 crore in the year-ago quarter, the company said in a regulatory filing. The company's Q3 FY24 SSSG 2.6 percent led by traffic growth.
Earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter was at Rs 68 crore compared to Rs 30 crore. EBIDTA margin was at 11.3 percent compared to 5.6 percent in the year ago period.
The Board of Directors approved the appointment of Mr. Yash Gupta as an additional non-executive & independent director on the Company's Board, effective from January 29.
In Q3 FY24, the company launched 38 new restaurants, closed one, with the majority opening in the latter half of December 2023. As of December 31, 2023, there were 441 operational restaurants, and as of the current date, there are 452 operational restaurants. Additionally, the company had 334 BK Café locations as of December 31, 2023.
The company introduced "King's Journey" digital experience restaurants featuring Self-Ordering Kiosks, App Ordering, and Table Service. Currently, there are 68 King's restaurants, with a plan for 100 percent rollout by FY25.
On January 29, share price of Restaurant Brands Asia closed 2.85 percent lower to Rs 114.20 on BSE.
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