Westlife Development Ltd., the operator of two-thirds of McDonald's outlets in India, said its same-store sales rose 20.7 percent in the three months ended December driven by its new products.
The franchise partner for the burger chain's stores in west and south India expects to maintain the same-store sales growth in high single or low double digits.
āIn the December quarter, we introduced 12 new products including chatpata naan at Rs 49,ā Amit Jatia, vice-chairman of Westlife Development, told BloombergQuint in an interview. āIt's a product that resonated well with the consumer.ā
Westlife Development's revenue for the third quarter rose 27.6 percent on a yearly basis to Rs 303.7 crore. It reported a net profit of Rs 7.7 crore compared with a loss of Rs 1.7 crore in the year-ago period.
Its margin widened by 280 basis points to 8.6 percent in the quarter ended December. Jatia said the company expects the margin to improve further.
Westlife Development will open 25-30 stores a year and increase prices by 3-5 percent over the next one year, he said.
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