Westlife Development posts Q3 net profit at Rs 7.75 cr

Westlife Development posts Q3 net profit at Rs 7.75 cr

New Delhi, Feb 5 (PTI) Westlife Development Ltd, which owns the master franchisee of McDonalds outlets in west and south India, today reported a net profit of Rs 7.75 crore for the quarter ended December 2017.

The company had posted a net loss of 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," Westlife Development Ltd Vice-Chairman Amit Jatia said.

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) McDonalds restaurants across 37 cities in the west and south regions.

The companys stock was trading 5.06 per cent up at Rs 348.95 apiece on BSE today. PTI PRJ SBT