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The stock has jumped over 50 per cent in the last one year, while in the last one year the stock eye-popping returns of 151 per cent.
After an unprecedent year of hardships and extraordinary challenges, Speciality Restaurants, started the new financial year with a new zeal and the testimony is the earnings reported by the company.
Speciality Restaurants is one of the largest chain of restaurants in the dinning sector with restaurants across India, UAE (Dubai), Qatar (Doha), Tanzania (Dar e salam) and in UK (London).
In Q1FY23, revenue from the operations tripled to Rs 90 crore compared to Rs 30 crore reported during the same period of the last year. Profit before tax stood at 16 crore in Q1FY23 as against loss of Rs 8.5 crore in Q1FY22. Interestingly, the company also managed to turn its year-ago quarter’s net loss of Rs 29 crore into a profit of Rs 15 crore for Q1 of FY2023.
The company informed that it has acquired 100 per cent of the the Equity Share Capital of the Target Company on August 2, 2022 at an aggregate consideration amounting to 1,00,000. The Company has acquired 100 per cent of the issued and paid-up Equity Share Capital of the Target Company.
Pursuant to the above acquisition of equity shares, Speciality Hotels India Private Limited is now a Wholly Owned subsidiary company of the Company.
Company firmly believes that the turbulence of the past few years is behind us. They have managed to countered the headwinds better with innovation and resilience and remain optimistic about the future and confident about harnessing newer growth opportunities in food services industry that will enable company to continually move towards sustainable growth and portability to stay ahead of the curve.
The stock has jumped over 50 per cent in the last one year, while in the last one year the stock eye-popping returns of 151 per cent.