Burger King India share falls over 7% despite narrowing of Q4 loss

Burger King India share fell over 7% despite the quick service  restaurant chain reporting narrowing of its loss for quarter ended March 2021. The firm logged consolidated net loss of Rs 25.94 crore in Q4 against a net loss of Rs 37.41 crore during the January-March 2020 quarter.

Market cap of the firm fell to Rs 5,850 crore on BSE. The stock has fallen after 5 days of consecutive gain. The share opened with a loss of 2.72% at Rs 152.10 today. It touched an intraday low of Rs 145.05, down 7.23% against previous close of Rs 156.35 on BSE.

Burger King share trades higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Total 6.85 lakh shares changed hands amounting to turnover of Rs 10.29 crore on BSE. Total income in Q4 stood at Rs 199.45 crore against Rs 192.95 crore in the year-ago period.

Burger King India's total expenses in the March 2021 quarter stood at Rs 219.81 crore.

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For the full financial year 2020-21, the company reported a total income of Rs 522.93 crore. It was Rs 846.82 crore in 2019-20.

On Wednesday, the stock touched an intraday high of Rs 159.05, rising 4.02% ahead of its Q4 earnings announcement.

In its first quarterly earnings post a strong listing, the firm reported a net loss of Rs 29.02 crore in Q3 against a net loss of Rs 21.72 crore in the year-ago quarter. Revenues in Q3 fell 28.4 per cent year-on-year to Rs 163.19 crore. However, on a sequential basis, the company's topline showed growth of 69 per cent.