Westlife Foodworld, the operator of McDonald's in parts of India, reported a jump in fourth-quarter profit on Wednesday, as its cheaper menu items attracted budget-conscious consumers.
The restaurant operator's consolidated profit after tax rose to ₹152 crores ($178,163.28) for the quarter ended March 31 from ₹76 crore a year ago.
Indian operators of U.S. chains of KFC and Burger King are launching more cheaper items, including $1 pizza and burger, to compete with local rivals at a time when the high cost of living is prompting consumers to cut back discretionary spending.
During the quarter, Westlife actively advertised its breakfast options and coffee, starting at a little more than $1. The efforts helped the franchisee report a 7.2 per cent increase in revenue from operations to ₹603 crore
Westlife's shares were up 0.2 per cent after the results.