Worst getting over & we should be bouncing back soon: Speciality Restaurants

Speciality Restaurants has reported a weak set of Q1 earnings despite the stock being 68 percent up in the last one year.

In an interview to CNBC-TV18, Anjan Chatterjee, Founder & MD of Speciality Restaurants discussed his company’s performance in detail.

Restaurant industry has gone through a bit of a bad luck in terms of the Supreme Court’s (SC) order of ban on sell of liquor near highways — the order has been reversed though by SC, we have lost a lot of money — and secondly goods and services tax (GST) has come in – there is a huge flux and there is a confusion of all kinds of charges and our vendors are not GST-ready — he said.

However, the worst is getting over so we should be bouncing back one-by-one very soon, he added.

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