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.
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