Westlife Development Ltd posts Rs 1.71 crore loss in Q3

Westlife Development Limited (WDL), that owns Hardcastle Restaurants, the master franchisee of McDonald's outlets in west and south India, today reported a loss at Rs 1.71 crore in the quarter ended December as against Rs 23.25 lakh in the comparable quarter last year.
The revenues for the quarter stood at Rs 241.75 crore, up 14.6 per cent year-on-year, from Rs 210.9 crore
Topline performance growth was driven by restaurant network expansion, addition of new formats, brand extensions and innovative menu additions, WDL said in a statement here.
"We are happy to report our sixth consecutive quarter of positive comparable sales at 5.1 per cent against 3.1 per cent in the December quarter last year, demonstrating consistent performance across all segments in the face of recent volatile macroeconomic challenges," said Amit Jatia, Vice-Chairman, Westlife Development Limited.

McDonald's further looks to connect with more consumers through its revamped mobile application.
The company witnessed headwind on demand, through online orders, which was also perceptible in eating out segment post demonetisation.

"In fact, our web and mobile platforms contribute over 55 per cent sales to the total McDelivery business for McDonald's," Jatia explained.
WDL invested in increasing footprint of McDonald's and opened 7 new restaurants in this quarter by taking the total count to 252 restaurants across 34 cities and 10 states.
The company is on track to take its restaurant footprint to 450-500 by 2022, it said.
During the quarter, WDL opened its 100th McCafe in a span of three years and overall increased its footprint to 104 restaurants by adding 11 new outlets. WDL is on track to double its McCafe base by FY17, it said.

"While facing the challenges of a volatile macro environment, we continued to make thoughtful investments in our 20 years brand journey communication....And by making investments in product innovation and expansion, we have fortified our business for sustained growth," Jatia said.