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Hot Pursuit

Scrips, which has significant changes during the market hours.

Westlife Foodworld jumps as arm to pay 4.5% royalty to McDonalds

31-Mar-23 13:40Hrs IST

Westlife Foodworld, formerly known as Westlife Development Ltd (WDL), focuses on setting up and operating Quick Service Restaurants (QSR) in India through its subsidiary Hardcastle Restaurants Pvt. Ltd. (HRPL).

HRPL owns & operates McDonald's restaurants across West and South India. It has a master franchisee relationship with McDonald's Corporation USA and has been the custodian of the brand since its inception in 1996.

As on December 2022, HRPL operated 341 McDonald's restaurants across 52 cities in the states of Telangana, Gujarat, Karnataka, Maharashtra, Tamil Nadu, Kerala, Chhattisgarh, Andhra Pradesh, Goa and parts of Madhya Pradesh and Union Territory of Puducherry and provides direct employment to close to 10,000 employees.

Westlife Foodworld's net profit increased by 75% to Rs 36.35 crore in Q3 FY23 from Rs 20.82 crore in Q3 FY22. Total revenues rose by 28.2% YoY to Rs 611.46 crore during the quarter.

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