Westlife Development reported a consolidated net profit of Rs 20.82 crore in Q3 FY22 as against a net profit of Rs 0.11 crore in Q3 FY21.
Total revenue increased by 46.7% YoY to Rs 476.83 crore during the quarter. This was driven by growth across both dine-in and convenience channels that grew bya solid 39% and 55% respectively. The company's same store sales growth for the quarter stood at 44% YoY.
Operating EBITDA increased by 66.7% to Rs 83.45 crore in Q3 FY22 from Rs 50.06 crore in Q3 FY21. Operating EBITDA margin was 17.5% in Q3 FY22 as against 15.4% in Q3 FY21.
The company added 8 new stores taking the total store count to 316 restaurants across 44 cities.
Amit Jatia, Vice Chairman of Westlife Development Limited, said, We are quite pleased with our performance in the quarter. What is especially noteworthy is that this has come in a quarter that continued to see certain COVID-led restrictions.
Westlife Development focuses on setting up and operating quick service restaurants (QSR) in India through its subsidiary Hardcastle Restaurants (HRPL). The company operates a chain of McDonald's restaurants in West and South India, having a master franchisee relationship with McDonald's Corporation USA, through the latter's Indian subsidiary.
The scrip fell 1.08% to end at Rs 487.25 on the BSE today.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app