The company also recorded its highest-ever sales of Rs. 6.1 billion, with an increase of 28% YoY.
Bengaluru: Westlife Foodworld Ltd., owner, and operator of McDonald’s restaurants in West and South India reported a Cash PAT (profit after tax) of Rs. 753 million in the third quarter (Q3) of the financial year (FY) 2023 with an increase in its PAT margin to 12%.
“We are pleased to witness yet another robust quarter on the back of significant menu innovations and superior execution. We have stepped up our investments in modernizing our stores to EOTF (Experience of the Future) formats which are more relevant for today’s digital-savvy customers,” said Amit Jatia, vice chairman of Westlife Foodworld Ltd.
The company also recorded sales of Rs. 6.1 billion, an increase of 28% year-over-year (YoY). Westlife’s average sales per store in trailing 12 months stood at Rs 64.7 million against Rs 47.7 million in the corresponding quarter of the last financial year. The company reported 20% YoY SSSG (same store sales growth) on the back of a significant increase in dine-in guest counts.
The company’s Restaurant Operating Margin stood at Rs 1,457 million, showing a healthy growth of 35% YoY. At the same time, Operating EBITDA (earnings before interest, taxes, depreciation, and amortisation) jumped 32% YoY to clock Rs. 1,103 million.
“Our digital channels thereby continued to show strong growth, demonstrating healthy customer adoption. Going forward, we believe that menu innovations, omnichannel presence, and cost leadership will continue to be the key growth drivers for us as we work towards redefining the QSR industry,” added Jatia.
The company’s on-premise business witnessed 42% YoY growth and a 23% growth over pre-Covid base, while the off-premise business grew by 12% YoY and 85% over pre-Covid base.
Westlife Foodworld Limited is an Indian fast food restaurant holding company founded in 1982. As of December 2022, the company operates 341 restaurants in 52 cities, including 67 Drive-Thrus, 288 McCafés, and 205 Experience of the Future (EOTF) restaurants.
