McDonald's India franchisee Westlife posts Q1 profit drop

Westlife Foodworld

25/07/2024 10:33

BENGALURU, July 25 (Reuters) - Westlife Foodworld
 WEST.NS , the operator of McDonald's  MCD.N  restaurants in
west and south India, reported an 89% plunge in first-quarter
profit on Thursday, hurt by frail demand as budget-conscious
customers cut back on eating out. 
    Consolidated profit after tax fell to 32.5 million rupees
($388,412.17) for the three months ended June 30 from 288.3
million rupees a year ago.   

($1 = 83.6740 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))