Speciality Restaurants Limited reports total income of Rs 9,859 lakhs and PAT of Rs 1,471 lakhs for Q1FY23
Mumbai (Maharashtra) [India], August 5 (ANI/NewsVoir): Speciality Restaurants Ltd, a leading fine dining restaurant operator with Mainland China, Asia Kitchen by Mainland China, Oh! Calcutta and Sigree-Global Grill as its key brands on a standalone basis 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 per cent 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 per cent on a q-o-q basis. Total Comprehensive Income for Q1 FY23 was reported as 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.
Commenting on the performance of the company Anjan Chatterjee, Chairman and Managing Director, Speciality Restaurants Ltd, said, "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. We continue to focus on the cloud kitchen vertical with our established brands for the delivery business with low capital requirements and better return on investments. Establishing a 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."
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, 2 in UAE. The company operated 1 restaurant in London under Joint Venture.
The Company started operations of it's "Chourangi" restaurant at 3 Old Quebec St. London WIH 7AF on October 7, 2021. Chourangi is the joint venture of Speciality Restaurants through it's subsidiary, in the city of London. It promises to introduce London's discerning food lovers to the unexplored cuisine of India - three centuries old and still evolving, bursting with taste and flavours that have never before been encountered in this city.
The decor has also been carefully thought out and designed to capture the diversity of the city over centuries with the iconic 'Indian Coffee House' feel of the Howrah Bridge Wallas the gate way to the city, the iconic Tolly Club and Bengal Club or the Royal Turf Club' settings, louvre walls with a mix of jazz and Bengali light instrumentals in the background to set the mood for discerning diners to soak up the experience. The food offering is a culinary mix of street food and the heritage cuisine of the Sahib's/Mughals, with subtle influences of the French and British. It's Calcutta cuisine features adventurous new ingredients, flavours and cooking methods interwoven with 300 years of colourful history and stories giving the people of London an experiential taste of Calcutta.
Speciality Restaurants is engaged in the business of operating restaurants and confectionaries with restaurants across India, Qatar, UAE and United Kingdom. The Company's Flagship Brand is Mainland China offering authentic Chinese cuisine. In a recent brand refresh and extension, the Company successfully introduced Asia Kitchen by Mainland China whose menu extends to Pan-Asian cuisine. The Core Brands are Oh! Calcutta offering light Bengali delicacies having presence of over 25 years. Sigree-Global Grill which features a melange of fresh, grilled flavours from all around the world like the Mediterranean, Oriental, Spanish, Mexican and Indian cuisine with live grills on each table.
"Gong Modern Asian" whose menu extends Sacred Chinese gongs are inscribed with the Mandarin Chinese characters called Tai Loi, which means, happiness has arrived. Gong-Modern Asian takes you to a new level of happiness with its high-energy ambience that is a contemporary take on traditional Japanese temple architecture and diverse Asian flavours that are prepared using western cooking techniques and presentations. "Episode One" is one of a kind experiential bar and dining space in Powai, Mumbai. "BARishh" is a place that is vibrant and chic, with stunning decor, a splash of pop colours that spell youthful and comes a breath of fresh air... sip on some house-special gin concoctions and celebrate all things millennial with a touch of "ishh". BARishh. "RIYASAT" is usually an Arabic word which means "Estate" or "Empire". Infused with a 'contemporary Indian cuisine - Riyasat' is a story woven through royal celebrations and victories and is inspired from the state homes of the royal families of the 19 century.
The other Core Brand is Sweet Bengal confectionary featuring Bengali Sweets and Snacks, "Dariole" is a chain of Confectionary from the house of Speciality Restaurants, with offerings from our master bakers in the state-of-the-art bakery creating a little masterpiece with flours and ingredients sourced locally and Its Power Brands are Hoppipola, an all-day bar offering contemporary food, finger foods and bar nibbles and Cafe Mezzuna an all-day casual dining format serving continental dishes with the Mediterranean, Moroccan, East Asian and Italian flavours.
The Company's other Restaurant brands include Jungle Safari, Haka and Flame & Grill.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)