Westlife Development rose 2.21% to Rs 348.50 after consolidated net profit rose 15% to Rs 4.68 crore on a 14.2% rise in net sales to Rs 394.87 crore in Q2 September 2019 over Q2 September 2018.
The result was announced after market hours yesterday, 24 October 2019.
Meanwhile the S&P BSE Sensex was trading 0.04% higher at 39,035.57.
Consolidated EBITDA rose 30.9% to Rs 43.32 crore in Q2 September 2019 as against Rs 33.11 crore in Q2 September 2018. The company's adjusted restaurant operating margin also rose 32.8% to Rs 62.92 crore in Q2 2019 as compared to Rs 47.39 crore in Q2 2018.
Westlife Development (WDL) indirectly owns the master franchisee of McDonald's in West and South India. WDL reported a healthy Same Store Sales Growth (SSSG) of 7%, over a high SSSG of 25.7% same quarter last year. Same store sales means the revenue from outlets that have been open for at least a year.
On the BSE, 35,000 shares were traded in the counter so far compared with average daily volumes of 4388 shares in the past two weeks. The stock has hit a 52-week high of Rs 454.45 on 15 March 2019 and a 52-week low of Rs 257.2 on 31 July 2019.
McDonald's opened 5 new restaurants in Q2, taking the final total to 304 restaurants across 42 cities.
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