McDonald's India franchisee Westlife misses earnings estimates on higher costs

Westlife Foodworld

26/10/2023 09:24

CHENNAI, Oct 26 (Reuters) - Westlife Foodworld
 WEST.NS , which operates McDonald's restaurants in west and
south India, reported quarterly earnings that missed analysts'
estimates on Thursday, as increased costs overshadowed higher
sales of its burgers and fried chicken.
    The franchisee said consolidated net profit after tax fell
to 223.7 million Indian rupees ($2.7 million) in the
July-September quarter, from 315.4 million rupees a year ago.
    Analysts were expecting a profit of 319.6 million rupees,
according to LSEG data.
 
 ($1 = 83.1590 Indian rupees)

 (Reporting by Praveen Paramasivam in Chennai; Editing by Savio
D'Souza)
 ((Praveen.Paramasivam@thomsonreuters.com; +91 867-525-3569;))