Westlife Development Ltd, which owns the master franchisee of McDonald’s outlets in west and south India, has reported a net profit of Rs 7.75 crore for the quarter ended December 2017.
According to a PTI report: The company had posted a net loss of Rs 1.71 crore during the same period of the previous fiscal, Westlife Development said in a regulatory filing.
Net sales during the quarter under review grew 27.6 per cent to Rs 303.71 crore as against Rs 238.03 crore in the year ago period.
The company said the numbers mark the tenth straight quarter of positive same store sales growth with margins expanding by over 280 basis points.
“The company has delivered record numbers in the October December quarter with double digit comparable sales growth of 20.7 per cent, the highest in the QSR industry,” Amit Jatia, Vice-Chairman, Westlife Development Ltd was quoted by PTI as saying.
Cash profit of the company during the quarter rose 82.1 per cent year-on-year to Rs 27.02 crore as against Rs 14.84 crore.
Westlife Development Ltd, through its subsidiary Hardcastle Restaurants Pvt Ltd (HRPL), operates 271 (as of December 31, 2017) McDonald’s restaurants across 37 cities in the west and south regions.