Burger King India Q3 net loss nearly halves to Rs-15.16cr on lower financing costs

26 Jan 2022 , 05:35 PM

Burger King India Ltd reported 60.96% growth yoy in total revenues for the Dec-21 quarter on consolidated basis at Rs283.08cr. On a sequential basis, the revenues were higher for the quarter by 13.38%.

During the quarter, the average daily sales (ADS) recovery during the quarter stood at 104%, while the delivery business saw ADS of 160%. Dine-in business saw ADS recovery of 78% versus 65% last year.

The best ADS recovery was seen in the West, South and East India, with slightly lower levels of recovery in North India.

The consolidated net loss for the Dec-21 quarter narrowed and nearly halved to Rs-15.16cr on ADS recovery. Losses were also lower on sequential basis.

While the restaurant EBITDA was up 17.2%, the overall company EBITDA was up 11.7%. The store count has grown to 294 and is expected to touch 700 by December 2026.

The Burger King App has also seen good traction. There was a sequential growth of 41% in App based sales while there have been a total of more than 2.35 million installs of the app.

Financial highlights for Dec-21 compared yoy and sequentially

	Burger King
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 283.08	₹ 175.87	60.96%	₹ 249.67	13.38%
Net Profit (Rs cr)	₹ -15.16	₹ -29.03	N.A.	₹ -20.23	N.A.
Diluted EPS (Rs)	₹ -0.39	₹ -0.98		₹ -0.53
Net Margins	-5.36%	-16.51%		-8.10%