India's Westlife Foodworld sinks to session low as Q4 profit slumps

Westlife Foodworld

08/05/2024 10:47

** Shares of McDonald's India franchisee Westlife Foodworld
 WEST.NS  drop 7.7% to session-low after Q4 results
    ** Q4 profit slides 96% as consumers cut back on dining out
and ordering in despite fast-food chain's attempts to lure them
with discounted prices
    ** Stock was down 2.6% before the results, already set to
snap three-day winning streak
    ** Trading vol of over 355,000 shares is 2x the 30-day avg 
    ** Twenty one analysts covering the stock on average have a
"buy" rating; median PT is 880 rupees - LSEG data
    ** Stock up ~5.5% YTD, had gained 3.5% in 2023 for fourth
straight year of gains

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))