Restaurant Brands Asia’s Q3FY24 Performance Overview

Restaurant Brands Asia's Q3FY24 Performance Overview

VoM News Desk | January 30, 2024 | 12:37 PM IST | Breaking News | Follow on Google News

Restaurant Brands Asia’s Q3FY24 Performance Overview

Restaurant Brands Asia’s Q3FY24 Performance Overview

• Restaurant Brands Asia (RBA) witnessed a 6% surge in share price after reporting a narrower Q3FY24 loss compared to the previous year.
• The consolidated net loss decreased from ₹50.42 crore to ₹36.18 crore in the same quarter.
• Despite recent volatility, the share price opened at ₹117.15 on BSE, reaching an intraday high of ₹121.15.
• Analyst Rajesh Bhosale from Angel One suggests that while a bounce-back is observed, the price structure isn’t appealing, and potential selling pressure may arise.
• Antique Stock Broking finds RBA’s Q3FY24 performance surprisingly favorable, emphasizing India’s 20% YoY increase in revenue and same-store sales growth (SSSG).
• RBA adjusted its SSSG estimates for the India business from 6% to 3% due to the current downturn in demand.
• The company aims to enhance profitability and traffic-led revenue growth through initiatives like expanding BK Café and developing innovative menus.
• Antique Stock Broking has increased EBITDA estimates for FY24/25/26 and maintains a BUY recommendation with a revised target price of ₹150.
• Nuvama Institutional Equities highlights RBA’s margin accretion in the India business, up 300bp YoY, and maintains a BUY recommendation with a target price of INR137.

The positive Q3FY24 results and strategic initiatives suggest a favorable outlook for Restaurant Brands Asia, particularly in India’s market.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.