Oct 27, 2018
Owner of the franchisee of McDonald’s restaurants in west and south India, Westlife Development, reported a spectacular six-fold jump with a net profit of Rs. 7.9 crore for the second quarter of the financial year 2018-19. Last year Mc’D reported a profit of Rs. 1.2 which definitely gives the company a time to celebrate this year.
Mc’D as children dearly call it, reported a 32 percent rise in its revenue to Rs. 350 crore in this year review. The QSR-chain had reported revenue of Rs. 264.6 crore during the same time previous year.
“I am happy to announce that the company has reported yet another quarter of profitable performance. We made a bold move by launching the new rice platform in this quarter which worked very well for us and has got a tremendous response from our customers. This new platform has helped us expand our addressable market while adding to our range of nutritious and wholesome meal options. Our investments in brand extensions continue to reap excellent results as both McCafé and McDelivery have become strategic levers for the company”, said Amit Jatia, Vice-Chairman of Westlife Development.
During the quarter, the company launched the new rice platform and introduced two variants of rice meals – Cheesy and Spicy. The company aims to continue building on this platform.
The company has been rapidly growing its McCafé footprint. It added 14 new McCafé’s in the quarter, taking the total count to 170.The company opened six new McDonald’s restaurants including the first restaurant at Kakinada in Andhra Pradesh taking the total count to 287 restaurants across 39 cities.