The Casual dining chain Barbeque Nation had posted a profit in the quarterly earnings. The restaurant chain is well known for its buffet business model which focuses completely on dine-in. Let’s look at how Barbeque Nation managed to increase its profit amidst the pandemic and lockdown in the major cities across India.
Barbeque Nation – Latest News
On 24 May 2021, Barbeque Nation had projected a profit of INR 6.1 crore for the March quarter when compared to a loss of INR 27 crore in the previous year. There was a 19 % increase in the revenue from operations of the company which amounted to INR 190 crore.
The operating profit or the EBITDA of the company had seen a year on year increase of 128 % with margins of 24.8 % which stood at INR 56 crore. The important point to be noted is that the chain’s delivery revenue had seen an increase of 471 % which amounted to INR 28.5 crore.
Reason Why Barbeque nation witnessed profit even during the pandemic
The Barbeque-Nation Hospitality has developed an integrated digital ecosystem which had proved to be beneficial during the pandemic. The company has been able to widen its reach and capture new customers as they have invested in their delivery with their dine-in business model.
The company had focused on continuously investing into the digital platforms of their business which provided the firm with an additional revenue source. The company’s own digital asset contributions had provided a revenue of 24.7 % and the delivery business has grown 6 times compared to the previous year.
How did Barbeque nation survived during the pandemic
The managing director of Barbeque Nation Hospitality Kayum Dhanani had conveyed that this year has been challenging for the restaurant chain due to the lockdown in many cities but they have adapted to the lockdown and restrictions by introducing a new product called Barbeque in a box.
He said that the product was introduced keeping in mind the pandemic and the lockdown. He added that this could become a successful product as they have a strong digital presence in their own app as well as third party websites and operators.
The CEO of the company had commented that amidst the lockdown and the pandemic restrictions Barbeque Nation has emerged to come out of the difficulties faced. He added that as the restrictions have been reduced and the stores being opened there have been customers coming into the outlets as well as the delivery of products going on hand in hand.
He added that the restaurant chain would focus on building the delivery business and it is expected to grow double by the end of 2022.
Who is the CEO of Barbeque Nation?
Rahul Agrawal is the CEO of Barbeque Nation.
Who is the owner of Barbeque Nation?
Kayum Dhanani is the owner of Barbeque Nation.
Is Barbeque Nation an Indian company?
Yes, Barbeque Nation is an Indian company.
Barbeque Nation is planning to continue its position as a casual dining and delivery business with cost optimization, growth in delivery segment, strong cash flow segment and market penetration strategy. The top priority of the company is to provide maintain employee wellbeing and the safest environment for the guests.
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