Burger King India reported a loss of Rs 44.35 crore in the June 2021 quarter. It had posted a loss of Rs 80.45 crore in the same quarter a year ago. That is, its losses have come down by 55%.
The company released its financial results on Friday. Its total sales during this period stood at Rs 150 crore. Its sales have decreased by 25% as compared to March while the deficit has increased compared to March. There was a loss of Rs 26 crore in March. The company said that compared to March, there has been a 76% recovery in sales in the June quarter.
The company has said that its business has been affected by Corona in the June quarter. In some areas, the lockdown forced it to close its outlets. Especially in April 2021, he had to suffer more. However, the company's delivery business has been doing well. The company said average daily sales stood at 92% in July. Its restaurant's business operating profit was Rs 16.1 crore in the June quarter. The margin was 10.7%.
The company had an operating loss of Rs 29.1 crore in the June quarter a year ago. The gross margin is still at 65.2%. It stood at 65.6% in the March quarter. Despite the lockdown, Burger King India opened 5 new stores in the June quarter. With this, it has a total of 270 stores. The company said that it has set a target of 320 restaurants in 2021-22. The company's stock closed at Rs 170 on Friday.
The company had sold shares at Rs 60 at the time of IPO. The listing was done at Rs 115. Within three days, the stock had gone up to Rs 220. Later its shares fell sharply and it went up to Rs 130. But for the last two months, this stock is rising again and has now reached Rs 170.
On the other hand, agro sector company Best Agro has also released its result. The company has said that it has a revenue of Rs 344 crore in the June quarter while it has made a profit of Rs 25.78 crore. It is among the top 15 agrochemical companies in the country.
The company's MD Vimal Alawadhi said that the profit has grown by 256% on a year-on-year basis. Excited about the growth and innovation to come through market-leading products in the coming quarters. We are building a very strong pipeline. The company recently got a patent for a pesticide. Its validity is for 20 years. The company has set a revenue target of Rs 400 crore in the next financial year.
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