Mumbai, Feb 1 (PTI) Westlife Development, the owners of the master franchisee of McDonald’s restaurants in the Western and Southern markets Friday reported 76.26 percent rise in net profit at Rs 13.66 crore in the quarter ended December 31, 2018.
It had posted a net profit of Rs 7.75 crore in the same quarter last year.
Total revenues during the quarter under review stood at Rs 370.66 crore as against Rs 305.19 crore in the corresponding quarter last year.
“We undertook a slew of initiatives focused on delivering variety, value and convenience to our customers that have worked very well. These initiatives coupled with our relentless focus on elevating customer experience and hospitality, and fiscal prudence helped us clock a healthy financial growth,” Westlife Development vice-chairman Amit Jatia said in a statement.
The company reported store sales growth of 14.5 percent, its 14th consecutive quarter of positive sales growth.
During the quarter, the company opened eight new restaurants, including the first restaurant in Thiruvananthapuram, Kerala taking the total count to 292 restaurants across 40 cities.
It added 12 new McCafes in the October to December period, taking the total count to 182.
Going forward, we are confident of maintaining our momentum and improving all-round business performance, Jatia said.
This is published unedited from the PTI feed.