Restaurant Brands Asia snaps two-day losing streak, shares close 3% higher after Q4 results

The company's total income for the fourth quarter of FY24 grew 16% year-on-year to ₹601 crore from ₹518 crore in the corresponding quarter of the preceding fiscal year. However, on a quarter-on-quarter basis, the company’s total income witnessed a marginal decline of nearly 1% from ₹607 crore in the December 2023 quarter.

The company extended the loss in the March quarter to ₹99 crore compared to ₹79 crore in the March quarter of FY23. The company had posted a loss of ₹39 crore in the December quarter.

For the full financial year 2023-24, the company’s total income grew by 17.4% to ₹2,455 crore compared to ₹2,090 crore in the preceding fiscal year. The company posted a loss of ₹236 crore in FY24 compared to ₹241 crore in the preceding financial year.

The company mentioned in its investor presentation that it plans to expand its market share and added that it has opened 75 new restaurants in FY24. The company also added that its aim was to improve its digital first approach by increasing digital touch points, covering all stores by December 2024.

The company also said that it plans to change its menu’s relevance by expanding its portfolio of chicken based offerings and adding a new premium range addressing Indian tastes and preferences.

Shares of Restaurant Brands Asia closed 3.11% higher at ₹106.05 apiece on the NSE.