Westlife Development Q4 revenue up 5.7% at Rs224.8 crore
Westlife Development reported net loss for March quarter at Rs4.15 crore, down 34%
- EPFO cuts administrative charges to 0.5%, firms to save together Rs900 crore annually
- Inclusion of ATF under GST will help airlines cut cost, says Suresh Prabhu
- Bajaj Hindusthan Sugar posts Q4 loss at Rs158 crore
- NALCO Q4 profit falls 4% to Rs257 crore
- Corporation Bank posts Q4 loss of Rs1,838 crore as provisions surge
Mumbai: Westlife Development Limited, owner of the franchise of fast-food chain McDonald’s for West and South India, posted a 5.7% increase in consolidated revenue for the quarter ended March on the back of higher sales and more store openings.
Westlife’s total consolidated revenue for Q4 stood at Rs224.8 crore while its net loss for the period was Rs4.15 crore, down 34%.
The company has been focusing on bringing down the cost of setting up a new store with a “Restaurant Operating Platform 2.0” program. Westlife vice chairman Amit Jatia said the strategy had helped reduce fixed costs by 20-30%.
“With this, new stores are now adding to cash flow rather than reducing it”, he said. “In FY17, our cash flow has increased by 30%”.
Westlife expects to post a net profit in the next 24 months, Jatia said.
“Our biggest achievement for this fiscal year (FY16-17) is that while Euromonitor has estimated a 5.6% increase the size of the informal eating-out sector, we have seen 11.7% growth in revenues, beating industry rates,” Jatia said.
The company’s annual revenue for FY16-17 was Rs930.79 crore.
Editor's Picks »
- Motherson Sumi continues to face margin pressure in foreign markets
- What the Warren Buffett indicator tells us about market valuations today
- Jet Airways lands with a thud in Q4 as fuel costs increase
- IBC amendments: Some dilutions, and a lot more speed
- Patanjali’s gambit is paying off in toothpaste wars