Burger King's Net Loss Narrows To Rs 44.35 Crore In June Quarter

Burger King Q1 Results: Burger King reported a net loss of Rs 44.35 crore in the June quarter, compared to a loss of Rs 80.45 crore in the corresponding quarter last year.

Burger King's Net Loss Narrows To Rs 44.35 Crore In June Quarter

Burger King India's revenue from operations stood at Rs 149 crore

Burger King India announced its April-June quarter results for the financial year 2021-22, reporting a net loss of Rs 44.35 crore, compared to a loss of Rs 80.45 crore in the corresponding quarter last year. The company's net loss narrowed in the first quarter of the current fiscal on account of muted sales last year due to the nationwide lockdown to contain the spread of the COVID-19 pandemic. 

Burger King India's revenue from operations or sales in the June quarter stood at Rs 149 crore, compared to Rs 38.49 crore in the corresponding period last year, marking a growth of 289 per cent year-on-year.

In the June quarter, Burger King India launched a 'stunner menu' with a focus on the value and variety with different taste profiles and food formats. Its largest variety in value menu covers 11 products including burgers, wraps, rice, volcano, according to a regulatory filing by the company to the stock exchanges today.

Despite localised lockdowns during the June quarter amid the second wave of the pandemic, Burger King India managed to open five new stores to take its store count to 270.

Burger King India was listed on the bourses on December 14, 2020. The quick-service restaurant chain achieved a strong market debut as its shares were listed at ₹ 115.35 on the BSE, a 92.25 per cent premium over the issue price of ₹ 60.

Burger King India is the national master franchisee of the Burger King brand in the country and has exclusive rights to establish, develop, operate and franchise Burger King branded restaurants across India.

On Friday, August 13, shares of Burger King India settled 0.96 per cent lower at Rs 170.30 apiece on the BSE.