Comments
Westlife Foodworld, the master franchisee of McDonald’s restaurants in West and South India, posted a net profit of ₹31.5 crore in the quarter ended September 30. The food services company had posted a net loss of ₹4.42 crore in the corresponding quarter in the previous fiscal. Total revenue from operations grew 48.5 per cent YoY to ₹572.42 crore in the quarter under review.
The company said same-store sales growth for the quarter was up 40 per cent YoY. It added that it achieved more than ₹6.75 crore in average annualised sales per store on the back of product innovation and growth momentum.
Amit Jatia, Vice-Chairman, Westlife Foodworld Ltd told businessline,“ In this quarter, our on-premise business grew by 96 per cent YoY and off-premise business consisting of digital channels, delivery and on-the-go services grew by 12 per cent YoY. So both our on-premise and off-premise business segments are growing strongly leading to strong same store sales growth.”
Related Stories
KFC reports 45% system sales growth in India in Q3
Pizza Hut clocked 51 per cent system sales growth in India in Q3The company said it witnessed a 22 per cent rise in monthly active users for its McDelivery app, which led to the highest quarterly sales for its delivery channel.
Jatia said the company has been managing inflationary pressures through product mix, price hikes, and cost control. He added that currently, the company is well-placed and will continue to make improvements in margins.
The food services company plans to add over 200 new restaurants in the next 3-4 years. “ In this financial year, we are maintaining the target of adding 35-40 new restaurants. We are broad-basing the expansion of our store network across metros, tier-1 and smaller towns” he added. Currently, it is operating 337 restaurants across 52 cities, including 68 Drive-Thrus and 274 McCafés.
Related Stories
McDonald’s starts all-women drive-thru restaurant in Ekta Nagar
In the vicinity of the Statue of Unity, the restaurant employs 28 women from nearby villagesIn its investor presentation, the company said that prices of key commodities like oil witnessed softening while milk and wheat saw continued pressure. “Overall inflation in raw material basket has been relatively moderating,” the company added.
Comments
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.