Westlife Foodworld, the operator of McDonald's in India, reported a 59 per cent drop in third-quarter profit on Wednesday, as cost-conscious consumers cut back on discretionary spending amid still-high food prices.
The restaurant operator's consolidated profit after tax stood at Rs 7.01 crore ($810,123.66) for the three months to Dec. 31, lower than Rs 17.25 crore a year ago.
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