Westlife

Westlife Development Q4: Westlife Development posts profit of Rs 15 crore; sales up 26.5%

New Delhi: which owns Restaurants, the main franchisee of McDonald’s restaurants for western and southern India, announced on Wednesday a consolidated net profit of Rs 15.06 crore for the fourth quarter ended March 2022.

The company had recorded a net loss of Rs 6.03 crore in the January-March quarter a year ago, Westlife Development Ltd said in an ESB filing.

Its sales increased by 26.50% to Rs 443.90 crore during the reporting period from Rs 350.89 crore in the corresponding quarter of the prior fiscal year.



“Resisting the challenges of inflationary pressures and the Omicron wave, the company’s operating EBIDTA increased 46% year-over-year to 16%. Its comparable store sales growth (SSSG) for the quarter s is high at 23% year-on-year,” he said.

Westlife Development’s total operating costs and expenses were Rs 353.48 crore, up 25.53% in the fourth quarter of FY 2021-22 from Rs 281.59 crore a year ago. a year.

In the fourth quarter of FY22, the company opened 12 new McDonald’s restaurants. With that, Westlife now has a total of 326 restaurants and 262 McCafes in 47 cities.

Vice President Amit Jatia said, “Our strong performance was underpinned by our omnichannel strategy, menu innovations and cost optimization practices, and is a testament to our scale and agility. The playbook we have developed over the past two years has made our business resilient and we aim to continue to deliver seamless customer experiences while leveraging our momentum to drive long-term sustainable growth for all of our stakeholders. »

For the year ended March 2022, the consolidated net loss of Westlife Development was Rs 3.38 crore. It had reported a net loss of Rs 99.21 crore in the previous financial year.

Its sales stood at Rs 1,556.08 crore in 2021-22. This was 59.55% higher than Rs 975.25 crore in the same period a year ago.

Shares of Westlife Development Ltd settled at Rs 464 on BSE on Wednesday, down 3.17%.