Revenues grew by 32.3 per cent to Rs 350.1 crore, compared with Rs 264.6 crore last year, the company said in a statement.
Its consolidated revenue rose to Rs 350 crore, a rise of 32 percent compared to revenue of Rs 264.6 crore during the corresponding quarter of last year.
JM Financial is bullish on Westlife Development has recommended buy rating on the stock with a target price of Rs 495 in its research report dated July 27, 2018.
Revenue from operations increased sharply by 30.2 percent to Rs 341.7 crore compared to Rs 262.4 crore in same period last fiscal.
The company reported a double digit same-store-sales growth (SSSG) of 24.1 percent making it the 12th consecutive quarter of positive sales growth, against 25.1 percent in previous quarter.
JM Financial bullish on Westlife Development has recommended buy rating on the stock with a target price of Rs 445 in its research report dated June 13, 2018.
The company had posted a net loss of 1.71 crore during the same period of the previous fiscal, Westlife Development said in a regulatory filing.
Westlife Development reported a strong set of earnings. CNBC-TV18’s Priya Sheth caught up with Amit Jatia, Vice-Chairman of the company and asked him about his Q2 earnings.
South and west India's McDonald's franchisee Westlife Development reported a net profit of Rs 22 lakh in April-June quarter as against a loss of Rs 2.1 crore in the comparable quarter in 2016.
Axis Direct is bullish on Westlife Development has recommended buy rating on the stock with a target price of Rs 250 in its research report dated May 18, 2017.
The company, which operates McDonald's restaurants in west and south markets through its subsidiary Hardcastle Restaurants, had reported a net loss of Rs 6.53 crore in the January-March period a year-ago, it said in a statement.
Axis Direct is bullish on Westlife Development has recommended buy rating on the stock with a target price of Rs 260 in its research report dated April 10, 2017.
Over the next 2-3 years, the breakfast will be the key driver of growth for Mc Donald’s, said Amit Jatia of Westlife Development.
Hardcastle Restaurants, the franchisee of McDonald's for South-West India operations, will continue to pay 4 percent royalty to the American QSR operator till March 31, 2018.
HDFC Securities is bullish on Westlife Development has recommended buy rating on the stock with a target price of Rs 260 in its research report dated February 09, 2017.
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.
Speaking to CNBC-TV18, Amit Jatia, Vice Chairman of Westlife Development, the fast food chain's master franchisee, said prices would increase 3-5 percent this year but would remain affordable.
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Westlife Development envisages doubling the number of restaurants by 2022 and plans investment of Rs 150-200 crore every year on it, says Vice Chairman Amit Jatia.
Westlife Development (WDL), the master franchisee for US fast-food chain McDonald's in the west and south India, narrowed loss to Rs 3.3 crore in the quarter ended September 30 from Rs 9.4 crore in the same period last year.