Representative image of profit graph.
Credit: iStock Photo
Westlife Foodworld, the operator of McDonald's in parts of India, reported a jump in fourth-quarter profit on Wednesday, as its cheaper menu items attracted budget-conscious consumers.
The restaurant operator's consolidated profit after tax rose to Rs 1.52 crore ($178,163.28) for the quarter ended March 31 from Rs 76 lakh a year ago.
Indian operators of US chains of KFC and Burger King are launching more cheaper items, including $1 pizza and burger, to compete with local rivals at a time when the high cost of living is prompting consumers to cut back discretionary spending.
During the quarter, Westlife actively advertised its breakfast options and coffee, starting at a little more than $1. The efforts helped the franchisee report a 7.2 per cent increase in revenue from operations to Rs 60 lakh.
Westlife's shares were up 0.2 per cent after the results. ($1 = 85.3150 Indian rupees)