Speciality Restaurants reports 24% jump in Q1FY23 income

Operators of Mainland China, Asia Kitchen by Mainland China, Oh! Calcutta and Sigree-Global Grill, Speciality Restaurants has reported a total Income of Rs. 9,859 lakhs for Q1 FY23 as against Rs. 7,932 lakhs in the corresponding quarter thus marking a growth of 24.29% on a q-o-q basis.

EBIDTA for Q1 FY23 was reported at Rs. 2,639 lakhs as against Rs. 1,592 lakhs thus marking a growth of 65.77% on a q-o-q basis. Total Comprehensive Income for Q1 FY23 was reported Rs. 1,471 lakhs against loss of 843 lakhs.

The Consolidated financial results of the Company for Q1FY23 reported a Total Income of Rs. 9,859 lakhs. EBIDTA and Total Comprehensive Income for Q1FY23 was reported at Rs. 2,639 lakhs and Rs. 1,487 lakhs respectively.

“Company has been focused on taking strategic steps and implementing the learnings during COVID-19 period towards right sizing of the operations and focus on the delivery vertical has turned around the company's performance. Some tactical measures of cost controls and stream-lining business processes have led to rationalization of the costs which has resulted into savings resulting into improved profitability,” shared Anjan Chatterjee, Chairman & Managing Director, Speciality Restaurants Ltd.

He also mentioned that the group continue to focus on the cloud kitchen vertical with their established brands for the delivery business with low capital requirement and better return on investments.

“Establishing kitchen within kitchen in our existing restaurants has resulted into sweating of assets thus improving profitability. As the company is debt free, we will continue our expansion journey and provide best-in-class dining experience and delivery of hygienic food to our guests whilst creating value for all our stakeholders,” he added.

As on 31 March, 2022, the company had a total of 80 Restaurants (including 11 Cloud Kitchens and 17 Franchisee) and 37 Confectionary stores across 13 cities in India and two in UAE.

The company operated 1 restaurant in London under Joint Venture named, "Chourangi" restaurant at 3 Old Quebec St. London in October 2021.