Comments
Westlife Development on Friday reported 76.26 per cent rise in net profit at ₹13.66 crore in the quarter ended on December 31, 2018.
It owns the master franchisee of McDonald’s restaurants in the Western and Southern markets.
It had posted a net profit of ₹7.75 crore in the same quarter last year.
Total revenues during the quarter under review stood at ₹370.66 crore as against ₹305.19 crore in the corresponding quarter last year.
“We undertook a slew of initiatives focused on delivering variety, value and convenience to our customers that have worked very well. These initiatives coupled with our relentless focus on elevating customer experience and hospitality, and fiscal prudence helped us clock a healthy financial growth,” Westlife Development vice-chairman Amit Jatia said in a statement.
The company reported store sales growth of 14.5 per cent, its fourteenth consecutive quarter of positive sales growth.
During the quarter, the company opened eight new restaurants, including the first restaurant in Thiruvananthapuram, Kerala taking the total count to 292 restaurants across 40 cities.
It added 12 new McCafes in the October to December period, taking the total count to 182.
Going forward, we are confident of maintaining our momentum and improving all-round business performance, Jatia said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.