BUSINESS
Restaurant chain operator Westlife Development today said its consolidated net loss narrowed to Rs 4.15 crore for the fourth quarter ended March 31, 2017.
Restaurant chain operator Westlife Development today said its consolidated net loss narrowed to Rs 4.15 crore for the fourth quarter ended March 31, 2017.
The company, which operates McDonald's restaurants in west and south markets through its subsidiary Hardcastle Restaurants, had reported a net loss of Rs 6.53 crore in the January-March period a year-ago, it said in a statement.
Its total income from operations during the quarter under review was at Rs 224.89 crore as against Rs 212.62 crore in the corresponding quarter last fiscal.
For the fiscal year ended March 31, 2017, net loss stood at Rs 12.12 crore. The company had reported a net profit of Rs 2.83 crore for the same period a year earlier.
Total income from operations stood at Rs 930.78 crore for the recently-concluded fiscal as against Rs 833.43 crore in FY16.
"FY17 has been a significant step forward for brand McDonald's in India. The company has delivered a robust performance, recording a year-on-year sales growth of 11.7 per cent on the back of aggressive menu innovations, brand extensions and migrating to a more efficient restaurant operating system," Westlife Development Vice-Chairman Amit Jatia said.
Westlife Development added 25 new restaurants in FY17, taking the total count to 258 in west and south India. In this quarter, the company added nine restaurants (four in Maharashtra, one each in Chhattisgarh, Goa, Gujarat, Karnataka and Tamil Nadu) and aims to have 450-500 restaurants by 2022.
McCafe has enabled the company to broaden its addressable market and grow baseline sales, and it increased its McCafe footprint by adding 36 outlets in FY17, with seven in the last quarter, taking the total count to 111.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
India announce squad for New Zealand Test series, Jasprit Bumrah named vice-captain
Tamil Nadu train accident: Mysuru-Darbhanga Express crashes into goods train, several feared injured
DNA TV Show: All about JPNIC controversy and why it's causing political tension in Lucknow?
NC's Omar Abdullah meets LG, stakes claim to form J-K government, swearing-in ceremony on...
IND vs BAN, 3rd T20I: Predicted playing XIs, live streaming details, weather and pitch report
Sharjah-bound Air India Express flight with 150 onboard safely lands in Trichy after reporting…
IND vs BAN, 3rd T20I Dream11 prediction: Fantasy cricket tips for India vs Bangladesh
Combined wealth of India's 100 richest individuals, for first time in 2024, surpasses Rs...
Ozonetel Acquires CloudConnect Communications
Noida Police announce traffic diversions for Dussehra celebrations: Check key routes to avoid
Ratan Tata's millennial friend Shantanu Naidu and his midnight surprise for the industrialist
Indian speedster Mohammed Siraj takes charge as Telangana DSP
Mukesh Ambani’s Diwali dhamaka offer: Get free AirFiber for one year, unlimited internet; here's how
Oil Ignores War: Why Markets Are Calm Amid Middle East Chaos
Amitabh Bachchan receives birthday wishes from Ajay Devgn, Prabhas, Rajinikanth, Kajol, Navya
PAK vs ENG: Pakistan become 1st team to lose Test match by an innings despite scoring 500 plus runs
Noel Naval Tata: Check educational qualification, family tree of new Chairman of Tata Trusts
Rupee hits all-time low against dollar, know why Indian currency fell, which one's strongest
Here's how Shantanu Naidu's midnight birthday surprise for Ratan Tata left him 'visibly awkward'
Nobel Peace Prize 2024 awarded to Japanese organisation Nihon Hidankyo for...
An Ila Arun blockbuster launched THIS actress in Bollywood, everybody in her family is a star
Amid divorce rumours, 'Flying Beast' Gaurav Taneja and Ritu Rathee reunited for daughters?
When PM Modi's one-word SMS to Ratan Tata brought Nano to Gujarat
PM Modi holds bilateral talks with his Laos counterpart Sonexay Siphandone in Vientiane
Meet man, who is behind over 9% surge in Bandhan Bank share price today
Narayana Murthy's next BIG step, Infosys to no longer send job offer letters, the company will...
Vettaiyan Box Office Day 1: Rajinikanth, Amitabh Bachchan's film earns Rs 30 cr
Vishal Tinani awarded for Legal Excellence by Sachin Pilot
Your FAVOURITE car doesn't have steering wheels or pedals, is priced at Rs...
Paytm CEO Vijay Shekhar Sharma deletes post on Ratan Tata after backlash, he said…
Ratan Tata became favourite customer of THIS Mumbai newspaper vendor due to...
Late Ratan Tata talks about his romantic relationships, 'Seriously four times'
Harbhajan Singh predicts this star player will attract bidding war in IPL auction, he is...
TCS mourns the death of veteran industrialist Ratan Tata in this post
'You're not a…': Nitish Kumar Reddy reveals what Gautam Gambhir said before 2nd T20I vs BAN
Bigg Boss 18: Pookie Baba Aniruddhacharya apologises for appearing on Salman Khan show
Mukesh Ambani BEATS Gautam Adani to take top spot on THIS list, his net worth jumps to...
Amitabh Bachchan mourns Ratan Tata's death, writes 'an era...'
'Goa', Ratan Tata's pet dog, bids him emotional goodbye
Happy Maha Ashtami 2024: Top 10 best wishes, messages to share with your loved ones on Durgashtmi
At least 22 killed in airstrikes in central Beirut, 117 injured
Manager sues this bank for Rs 416711420 after getting fired due to...
One flight made Amitabh Bachchan 'Sharaabi', changed his life, made him superstar
Centre declares Hizb-Ut-Tahrir as terrorist organisation for involvement in...
Forbes Billionaires list: Mukesh Ambani gets richer by Rs 23088 crore
Meet man who began his career at SBI, now set to lead Rs 30246 crore company as...
Amitabh Bachchan's Bombay To Goa was FIRST offered to Rajiv Gandhi
NASA's Hubble Space Telescope spots Jupiter's great Red Spot shaking like...
'It was my...': Javed Akhtar REVEALS reason behind his failed first marriage with Honey Irani
Dawood Ibrahim is scared of me, says Bigg Boss 18 contestant Gunratan Sadavarte
Who is Zarin Daruwala, Standard Chartered's India CEO set to retire in April 2025?
Madhura Naik recalls family's encounter with Hamas militants, says 'it was...’
Big setback for India as Rohit Sharma may miss first Test of Border Gavaskar Trophy in Australia
Vijayta Pandit says Kumar Gaurav's family got him married to Namrata Dutt: 'He loved me immensely'