Westlife Development shares climb over 6 per cent on 3-fold rise in Q3 profit

PTI New Delhi | Updated on January 24, 2020

Shares of Westlife Development, the owner of the master franchisee of McDonald’s restaurants in West and South India, on Friday jumped over 6 per cent after the company reported an over three-fold jump in profit for the third quarter.

The company’s scrip climbed 6.43 per cent to Rs 448.40 on the BSE. On the NSE, it advanced 6.40 per cent to Rs 448.

The company on Thursday reported an over three-fold jump in consolidated net profit after tax at Rs 22.72 crore in the third quarter ended December 2019.

It had posted a consolidated net profit of Rs 6.92 crore in the year-ago quarter, Westlife Development said in a regulatory filing.

Total revenue during the third quarter stood at Rs 432.93 crore as compared to Rs 370.66 crore in the same period last fiscal, up 16.8 per cent, it added.

Published on January 24, 2020

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