McDonald's India franchisee Westlife misses Q3 profit estimates on sluggish demand

Westlife Foodworld

31/01/2024 10:51

BENGALURU/CHENNAI, Jan 31 (Reuters) - Westlife Foodworld
 WEST.NS , the operator of McDonald's chain of restaurants in
west and south India, missed quarterly profit estimates on
Wednesday, hurt by sluggish demand.
    Consolidated profit after tax fell nearly 53% to 172.4
million rupees ($2.08 million) in the three months ended Dec.31,
according to an exchange filing.
    Analysts, on average, had expected profit to fall to 331.1
million rupees, according to data from LSEG.
    


($1 = 83.0180 Indian rupees)

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