Westlife Development share price: Westlife Development rises 9% as sales hit a record Rs 537.9 crore

Shares of rose more than 9% in Friday trading after the company announced a consolidated net profit of Rs 23.58 crore in the April-June quarter of 2022, compared to a net loss of 33, Rs 39 crore during the corresponding period of the previous financial year.

It also posted its highest ever sales of Rs 537.9 crore in the June quarter, up 108% year-on-year (YoY). In the same quarter of the previous fiscal year, revenue stood at Rs 259.16 crore. The company’s total expenses increased to Rs 116.4 crore from Rs 25.5 crore YoY.

Amit Jatia, Vice President of Westlife Development, said: “Our business performance over the past three quarters is testament to the solid strategy we have followed and the trust and love we have managed to build for our iconic brand. We are proud to report our strong performance which reinforces the strength and resilience of our business.”

He added: With a redefined cost structure, increased productivity, high average unit volumes and healthy cash flow for restaurants, we are well positioned to drive accelerated business results and create long-term value for restaurants. shareholders.

Following the update, the certificate hit its all-time high of Rs 587.8. As of 12:40 p.m., the certificate was trading at Rs 573.2, 6% above its previous close of Rs 537.75.

Westlife Development sets up and operates Quick Service Restaurants (QSR) in India through its subsidiary

Restaurants Private Limited (HRPL). HRPL is a McDonald’s franchisee with the right to own and operate McDonald’s restaurants in the West and Markets.

Westlife Development is a mid-cap company with a market capitalization of Rs 8,938.26 crore.