Buzzing Today: Ashish Kacholia made an unrealised gain of Rs 1.09 crore in a single day in this stock!

The investor holds a 1.1 per cent stake in this famous food-chain company.

After reporting a strong quarterly performance on Monday, the shares of Barbeque Nation Hospitality Ltd are buzzing on the bourses today. Today, at 1.04 pm, the share price of Barbeque Nation Hospitality Ltd is up Rs 26.75 or 2.24 per cent to Rs 1,222.25.  

With this price surge, ace investor Ashish Kacholia made unrealized profits of Rs 1.09 crore in a single day. As per the June quarterly filings, the investor owns 409,094 equity shares of Barbeque Nation, representing a 1.1 per cent stake in the company.

On Monday, the company reported its Q1FY23 results. During the quarter, its consolidated net revenue grew 208.76 per cent to Rs 314.87 crore. The growth was led by both an increase in the number of covers as well as an increase in average realization per cover. This was the highest ever quarterly revenue earned by the company. Of the total revenue, 87 per cent came from the dine-in segment whereas the remaining 13 per cent came from the delivery segment.  

The PBIDT (ex OI) turned positive to Rs 70.45 crore from a negative Rs 17.82 crore in the corresponding quarter last year. This change was led by the company’s focused approach on improving operating efficiencies, calibrating price increases and changing the business mix in favour of dine-in business.   

Subsequently, the PAT came in at Rs 16.03 crore against a loss of Rs 43.86 crore in the corresponding quarter last year. 

In an interview with CNBC TV 18, Rahul Agrawal, CEO of Barbeque Nation Hospitality Ltd, stated that the company’s target is to improve the gross margin to 68 per cent and open 40 outlets this year. He further stated that the business has become stronger as compared to the pre-pandemic period.