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<ul><li><keyword id="361005" type="COMPANY" weightage="20" keywordseo="Barbeque-Nation">Barbeque Nation</keyword>’s share price is up by over 20% after it reported strong earnings for the quarter ending on 31 March 2021.</li><li>The casual restaurant dining chain plans to open 20 new outlets and double down on its delivery business despite the uncertainty of the pandemic.</li><li>“Out of the 20 stores we’re looking to open, at least 15 to 16 of these will come in metro cities. And the balance will come in tier-I and tier-II markets,” said Rahul Agrawal, CEO of Barbeque Nation, during the earnings call.</li></ul>Barbeque Nation is among the slew of companies that went public during the initial public offering (IPO) gold rush of 2021. And after its first earnings announcement since the launch of its IPO in April, the stock price has <a href="https://www.businessinsider.in/stock-market/news/barbeque-nations-share-price-jumps-20-trading-halts-as-upper-circuit-gets-hit/articleshow/82933919.cms" id="docs-internal-guid-f05f7ec0-7fff-87b5-51d6-413eec920f99">jumped more than 20%</a> as of 12:20 p.m on May 25. <div type="image" title="bbq nation share price" msid="82935084" hostid="261" caption="&amp;lt;p&amp;gt;Barbeque Nation share price since the launch of the its IPO&amp;lt;/p&amp;gt;"></div> Despite the uncertainty caused by the pandemic and the management’s own admission that business has taken a hit during the second wave of COVID-19 in India, the restaurant franchise has plans to open up 20 new outlets pan-India. <div type="ExtQuote" text="Out of the 20 stores we’re looking to open, at least 15 to 16 of these will come in metro cities. And the balance will come in tier-I and tier-II markets." auname="Rahul Agrawal, CEO of Barbeque Nation during Q4 earnings call on May 24"></div> <cmsannotation type="cmsannotation" annotationid="Betting on the lockdown to end sooner than later" comment="subhead" text="Betting on the lockdown to end sooner than later">Betting on the lockdown to end sooner than later</cmsannotation> When Barbeque Nation launched its IPO on March 24, the company allocated ₹55 crore out of its ₹180 crore issue of fresh shares towards expansion. According to the management, the short term outlook is challenging but, at the same time, vendor deals are softening. “Given that the restaurant industry in particular has suffered a lot, many landlords are also reasonable in their expectations, which help us look at these markets [metros],” said Rahul Agrawal, the chief executive officer (CEO) of Barbeque Nation during the earnings call on May 24. He is hoping that cases will come down by June-end, states will start coming out of their respective lockdowns and give the company permission to open their dining business. Meanwhile, to weather the immediate storm, Barbeque Nation is confident that its push towards the delivery side of the business will cushion any uncertainties. Launched in June 2020, the company’s home-delivery service ‘Barbeque in a Box’ has seen massive popularity. It currently accounts for 20% of the revenue from the delivery business. <cmsannotation type="cmsannotation" annotationid="Barbeque Nation comes out of the red" comment="subhead" text="Barbeque Nation comes out of the red">Barbeque Nation comes out of the red</cmsannotation> The company went from making losses over the last five quarters to finally reporting a profit for the three months from January to March. It logged a profit of ₹6.4 crore as compared to a loss of ₹27.9 crore during the same time last year, and a loss of ₹1.35 crore in the previous quarter. A lot of this had to do with its earnings before interest, taxes, depreciation, and amortisation (EBITDA) and restaurant operation margins improving by over 20% on a yearly basis. Margins indicate the ratio of profit to revenue. The larger the margins, the more profit the company can earn as revenue increases. And, in the fourth quarter, Barbeque Nation’s revenue from operations is up 18.5% for the March quarter as compared to the same period last year. “The improvement is on account of strong sales recovery, higher gross margins, and various other cost optimisations and measures undertaken by the company,” explained Agrawal. The impact of the second wave of COVID-19 has not been as severe as the first wave and there is still a lot of uncertainty that lies, but according to him, the company is optimistic about its outlook. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-says-it-will-wait-for-the-indian-government-to-pass-the-personal-data-protection-law-before-limiting-features/articleshow/82931362.cms">WhatsApp says it will wait for the Indian government to pass the Personal Data Protection law before limiting features</a> <a href="https://www.businessinsider.in/business/startups/news/zeta-is-indias-newest-unicorn-with-1-45-billion-valuation/articleshow/82930353.cms">This banking tech startup is the newest Indian unicorn with a $1.45 billion valuation</a>

Barbeque Nation plans to open 20 new stores in the middle of a pandemic hoping for a bargain

<ul><li><keyword id="865820" type="General" weightage="20" keywordseo="skit" source="Orion">Skit</keyword> has raised $23 million in funding to help more businesses automate their call centre operations.</li><li>A part of the funding would also be utilised by Skit for sales and marketing efforts, and R&amp;D.</li><li>The company counts Hathway, <keyword id="361005" type="General" weightage="20" keywordseo="Barbeque-Nation" source="Orion">Barbeque Nation</keyword>, Porter and Axis Bank as its clients.</li></ul>Bengaluru-based artificial intelligence (AI) startup Skit has raised $23 million in external funding to help more businesses automate their call centre operations. Skit, formerly known as <keyword id="4534386" type="General" weightage="20" keywordseo="vernacular-ai" source="Orion">Vernacular.ai</keyword>, aims to double down its operations in both domestic and international markets. The company is also looking to expand its current team of 200 employees as it further scales its business. As a part of this plan, the company has also set up its headquarters in New York in August. “This investment comes when we are making strategic inroads into the US and Southeast Asian markets. The global contact center market size is expected to grow steadily and reach a value of $496 billion by 2027,” Skit’s chief executive (CEO) and co-founder Sourabh Gupta said. A part of the funding would also be utilised by Skit for sales and marketing efforts, building delivery capabilities, research and development (R&amp;D) and expanding its product offerings. The Series A round was led by WestBridge Capital, with participation from existing investors Kalaari Capital and Exfinity Ventures. Angel networks LetsVenture and AngelList also infused an undisclosed amount in this round. Overall, the company has raised $30 million since its inception in 2016. Skit was founded by Gupta and Akshay Deshraj five years ago. The software-as-a-service (SaaS) company offers a suite of speech and language solutions that allow enterprises to automate their call centre operations. The company counts Hathway, Barbeque Nation, Porter and Axis Bank as its clients. It also claims to have increased its revenue and customer base by four-times since its last fundraise in May 2020. The company claims that its flagship product Vernacular Intelligent Voice Assistant (VIVA) currently responds in over 16 languages covering 160 dialects and has the capability to replicate human-like conversations. SEE ALSO <a href="https://www.businessinsider.in/investment/news/doge-meme-nft-is-being-auctioned-off-in-17-billion-pieces/articleshow/85833023.cms">The most expensive meme NFT ever sold will be auctioned off in 17 billion pieces tonight </a><a href="https://www.businessinsider.in/business/corporates/news/icici-bank-becomes-the-sixth-valuable-firm-after-ril-tcs-hdfc-bank-infosys-and-hul-in-india/articleshow/85828220.cms">ICICI Bank becomes the sixth valuable firm in India with over ₹5 trillion mcap after RIL, TCS, HDFC Bank, Infosys, and HUL</a> <a href="https://www.businessinsider.in/business/telecom/news/minimum-broadband-speed-in-india-increased-to-2mbps-from-512kbps/articleshow/85828322.cms">TRAI suggests government to pay for half of your broadband bill, increases minimum broadband speed to 2 Mbps</a>

Skit, which helps Barbeque Nation and Axis Bank automate call centres, has raised $23 million in funding

<keyword id="6354287" type="DOMAIN" weightage="20" keywordseo="bharti-airtel">Bharti Airtel</keyword> on Wednesday announced it has received <keyword id="3680175" type="PERSON" weightage="20" keywordseo="empanelment">empanelment</keyword> by <keyword id="6480513" type="COMPANY" weightage="20" keywordseo="computer-emergency-response-team">Computer Emergency Response Team</keyword> (CERT-In)  <keyword id="11021626" type="UNKNOWN" weightage="20" keywordseo="national-incident-response-centre">national incident response centre</keyword> for cyber incidents across the country. With this empanelment, <keyword id="15491" type="DOMAIN" weightage="20" keywordseo="Airtel">Airtel</keyword> will be able to offer its cyber security solutions to the union and state governments as well as public sector entities, in addition to corporate customers, the company said in a statement. "The <keyword id="6433708" type="ORGANIZATION" weightage="20" keywordseo="CERT">CERT</keyword> empanelment is a major milestone in our journey to becoming the preferred partner for enterprises when it comes to security, which is a top priority in today's digitally connected world," said Ajay Chitkara, Director &amp; CEO  Airtel Business. Airtel is providing end-to-end managed security services to enterprise customers under Airtel Secure. The telecom operator has set up a security intelligence centre with access to advanced technology and artificial intelligence/machine learning tools to track and mitigate potential online threats. Airtel Secure has created a comprehensive solutions portfolio through strategic partnerships with global leaders such as Cisco, Radware, VMWare, and <keyword id="3343784" type="COMPANY" weightage="20" keywordseo="Forcepoint">Forcepoint</keyword>. Airtel added 4.05 million wireless subscribers in December to take its base to 338.70 million. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/inside-ritesh-agarwals-family-office-aroa-ventures-and-its-early-investments/articleshow/81772098.cms">EXCLUSIVE: Inside Ritesh Agarwal’s family office and its early investments</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-for-barbeque-nation-ipo/articleshow/81771792.cms">Barbeque Nation IPO – How to check allotment status, listing date and more</a> <a href="https://www.businessinsider.in/business/news/xiaomi-plans-to-enter-the-electric-vehicle-business-with-an-investment-outlay-of-10-billion/articleshow/81772965.cms">Xiaomi forays into the electric vehicle business with a $10 billion subsidiary</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-is-eyeing-india-startups-as-it-gears-up-for-a-fight-with-asia-richest-man-in-retail/articleshow/81773692.cms">Amazon is eyeing India's startups as it gears up for a fight with Asia's richest man in retail</a>

Airtel gains CERT-In empanelment — will now be able to offer its cyber security solutions to the Indian government and its companies

Brokerage firm <keyword id="759851" type="General" weightage="20" keywordseo="Zerodha" source="Orion">Zerodha</keyword> has received in-principle approval from the <keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">SEBI</keyword> to launch its asset management company. <keyword id="11339820" type="General" weightage="20" keywordseo="zerodha-founder" source="Orion">Zerodha Founder</keyword> and CEO, <keyword id="1430802" type="General" weightage="20" keywordseo="Nithin-Kamath" source="Orion">Nithin Kamath</keyword> said in a tweet on Wednesday: "So, we just got our in-principle approval for our AMC (MF) license. I guess now comes the hard part. The company had applied for an AMC (<keyword id="6354820" type="General" weightage="20" keywordseo="Mutual-fund" source="Orion">Mutual fund</keyword>) license in February last year. "To grow the capital market participation from the current 1.5 crores and address those who currently don't invest (Millenials), we think mutual fund as a product needs to be reimagined. So yeah, we have just applied for an AMC (Mutual fund) license," he had said in a tweet last year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/uber-has-ola-zomato-has-swiggy-but-whos-urban-company-competing-with/articleshow/85835674.cms">Uber has Ola, Zomato has Swiggy but who’s Urban Company competing with?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/skit-which-helps-barbeque-nation-and-axis-bank-automate-call-centres-has-raised-23-million-in-funding/articleshow/85834063.cms">Skit, which helps Barbeque Nation and Axis Bank automate call centres, has raised $23 million in funding</a>

Zerodha gets approval to enter mutual fund business

<keyword id="6363239" type="COMPANY" weightage="20" keywordseo="luxury">Luxury</keyword> car maker <keyword id="25952" type="COMPANY" weightage="20" keywordseo="Mercedes-Benz">Mercedes-Benz</keyword> on Wednesday reported a year-on-year sales growth of 34 per cent in Q1 of 2021. The company sold 3,193 units in the January-March 2021 period, hinting at a strong <keyword id="6358025" type="UNKNOWN" weightage="20" keywordseo="recovery">recovery</keyword> ahead. It said the healthy performance came on the <keyword id="6484914" type="UNKNOWN" weightage="20" keywordseo="back">back</keyword> of strong sales during January and February which remained at pre-Covid level, and also due to the recovery in March sales. "2021 has begun on a strong note for us as we look for substantial sales recovery this year. The Q1 2021 sales momentum combined with the growing availability of <keyword id="11061977" type="UNKNOWN" weightage="20" keywordseo="volume-models">volume models</keyword>, will create a strong base for further recovery in coming quarters," Mercedes-Benz India Managing Director &amp; CEO <keyword id="6690549" type="PERSON" weightage="20" keywordseo="Martin-Schwenk">Martin Schwenk</keyword> said. "With a solid order bank for most of our volume models extending into months, we are very confident of driving growth back in the coming months. We hence start Q2 with a positive outlook buoyed by the growing availability of our newly introduced models, combined with the market debut of some of the most awaited products that will redefine the luxury segment completely." SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/for-the-third-consecutive-day-a-new-unicorn-is-born-from-india-as-pharmeasy-joins-the-billion-dollar-club/articleshow/81943929.cms">For the third consecutive day, a new unicorn is born from India as PharmEasy joins the billion dollar club</a> <a href="https://www.businessinsider.in/stock-market/news/barbeque-nation-ipo-shares-list-at-2-discount/articleshow/81944700.cms">Barbeque Nation bears the brunt of an uncertain future – shares list at 2% discount</a> <a href="https://www.businessinsider.in/policy/news/rbi-has-increased-mobile-wallets-limit-with-2-lakh-and-need-full-kyc-also-for-mobile-wallets/articleshow/81946037.cms">You need to do full KYC for mobile wallets too – but you can store twice the amount of money</a>

You Searched For "barbeque nation CEO" and got 5 results

Barbeque Nation plans to open 20 new stores in the middle of a pandemic hoping for a bargain

Prabhjote Gill

Skit, which helps Barbeque Nation and Axis Bank automate call centres, has raised $23 million in funding

Kritti Bhalla

Airtel gains CERT-In empanelment — will now be able to offer its cyber security solutions to the Indian government and its companies

IANS

Zerodha gets approval to enter mutual fund business

IANS

Mercedes-Benz India YoY sales growth up 34% in Q1 CY21

IANS

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