McDonald's India franchisee Westlife's Q4 profit slumps on frail demand

Westlife Foodworld

08/05/2024 10:21

BENGALURU, May 8 (Reuters) - Westlife Foodworld
 WEST.NS , the operator of McDonald's restaurants in west and
south India, reported a 96% slide in fourth-quarter profit on
Wednesday as cash-strapped consumers cut back on dining out and
ordering in despite fast-food chains' attempts to lure them with
discounted prices.
    The franchisee said consolidated profit after tax fell to
7.6 million rupees ($91,012.8) for the January-March quarter
from 200.9 million rupees a year earlier.


($1 = 83.5047 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru; Editing by
Sohini Goswami)
 ((AshnaTeresa.Britto@thomsonreuters.com;))