“The company reported a double digit Same Store Sales Growth (SSSG) of 24.1% making it the 12th consecutive quarter of positive sales growth. Operating profit swelled 124% to Rs 355 million and operating profit margins expanded by over 430 basis points to 10.4%,” Westlife Development said in a press release.
“Innovative menu options and value products have been the centerpiece of our strategy. Not only have they attracted more customers in our restaurants and McCafés they also have been a huge successes on our delivery platform McDelivery. Our industry-leading initiatives like the Good Food story – an initiative to re-engineer our food to make it more wholesome and nutritious have also resonated extremely well with customers,” said Amit Jatia, Vice-Chairman of Westlife Development.
At 02:03 pm; the stock was trading 13% higher at Rs 393 on the BSE, as compared to 0.80% rise in the S&P BSE Sensex. The trading volumes on the counter jumped more than 10-fold with 234,000 shares changed hands so far. An average sub 25,000 equity shares were traded daily in past two weeks on the BSE, the exchange data shows.