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Speciality Restaurants stock closes 20% higher on robust Q3 earnings

The stock hit upper circuit in early trade today and remained in the upper band for major part of the trading session.

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Speciality Restaurants stock closes 20% higher on robust Q3 earnings

The Speciality Restaurants stock closed higher today on its robust earnings for the quarter ended December 31.  The micro cap stock closed 20% or 16 points higher at 98.40 compared to its previous close of 82 level on the BSE.  The stock hit upper circuit in early trade today and remained in the upper band for major part of the trading session.

It opened with a gain of 15.85% at 95 level on the BSE. It hit an intra day low of 90.10 on the BSE. The stock has been gaining for the last two days and has risen 22.01% in the period. It saw only buyers and no sellers during the day.

On NSE too, the stock ended the day in the green. It closed 19.97% higher at 97 level on the NSE.

The stock has gained 24.56% since the beginning of this year but lost 43.56% during the last one year.

The stock closed higher than the 50 day and 200 day moving averages of 80.35 and 88.96, respectively.

Also read: Jet Airways stock hits air pocket after Etihad offers to invest at discount in ailing carrier

Net sales rose 24.15% to Rs 98.45 crore in Q3 of current fiscal compared to Rs 79.30 crore for the corresponding quarter of previous fiscal. Net profit rose 1,159.70% to Rs 8.44 crore in Q3 compared to Rs 0.67 crore in the corresponding quarter of the previous fiscal.

The firm logged 142.83% growth in Q3 operating profit compared to 25.37% rise in the corresponding quarter of the previous fiscal.

The company outperformed in terms of expenses in the third quarter.

Its cut total expenses to Rs 9,194 crore in the December quarter compared to Rs 26,808 crore in the corresponding quarter of the previous fiscal.

Speciality Restaurants is engaged in restaurants and mobile food service activity. The company has restaurants across India, Bangladesh and Tanzania.

The company's brands include Mainland China, Mainland China Asia Kitchen, Oh! Calcutta, Sigree Global Grill, Cafe Mezzuna, Sweet Bengal, Hoppipola, Sigree, Machaan, Haka, Flame & Grill and Mobifeast. It operates approximately 105 restaurants and 20 confectionaries.

Meanwhile, the Sensex and Nifty closed flat in trade today. While the Sensex gained just 3 points to 36,321, Nifty managed to end the day 3.50 pts higher at 10,890.

Edited by Aseem Thapliyal

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