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McDonald’s sales surged in the second quarter, signalling that the pandemic fears have largely eased as people throng stores to eat out.
Revenue rose 48.5%, same-store sales jumped 40%, and gross margin improved despite inflation pressure for Westlife Foodworld Ltd. in the quarter ended September, according to its exchange filing. Westlife holds the master franchise for McDonald’s in south and west India.
Westlife Foodworld Q2 FY23 (Consolidated QoQ)
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Revenue up 6% to Rs 572.3 crore. It rose 49% year-on-year. Bloomberg estimate: Rs 547.6 crore.
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Ebitda up 7% at Rs 98.8 crore against the estimated Rs 93.16 crore. Year-on-year, it rose 116%.
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Ebitda margin at 17.3% vs 17.1%.
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Net profit up 34% at Rs 31.6 crore against the estimate of Rs 26.5 crore. A year earlier, the company had reported a loss.
The numbers reflect the company’s successful strategy, Akshay Jatia, executive director at the company, told BQ Prime in an interview.
“Brand strategy and menu, an omni-channel approach, and growing volumes to increase market penetration through store expansion are the three main strategy components that enabled them to achieve the reported sales and margin growth,” he said.
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Image and article originally from www.bqprime.com. Read the original article here.