Hot Pursuit     31-Mar-23
Westlife Foodworld jumps as arm to pay 4.5% royalty to McDonalds
Westlife Foodworld rose 2.81% to Rs 687.30 after the company informed that the royalty payable by its subsidiary to McDonald's for FY24 will be 4.5%.
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.

Previous News
  Westlife Foodworld consolidated net profit declines 88.73% in the June 2024 quarter
 ( Results - Announcements 01-Aug-24   15:48 )
  Westlife Foodworld to table results
 ( Corporate News - 14-Jul-23   09:56 )
  Westlife Foodworld to convene board meeting
 ( Corporate News - 15-Jan-24   20:26 )
  Westlife Development reports consolidated net loss of Rs 25.27 crore in the March 2020 quarter
 ( Results - Announcements 12-Jun-20   08:07 )
  Westlife Foodworld to discuss results
 ( Corporate News - 11-Oct-23   10:31 )
  McDonald's opens its first restaurant in Nagpur
 ( Corporate News - 20-Aug-19   10:49 )
  Westlife Development grants stock options to employees of subsidiary
 ( Corporate News - 01-Oct-20   13:44 )
  Westlife Development to convene board meeting
 ( Corporate News - 17-Oct-19   11:31 )
  Westlife Foodworld grants 15,000 stock options
 ( Corporate News - 18-Jan-23   19:40 )
  Westlife Development provides business update
 ( Corporate News - 30-Sep-16   09:11 )
  Westlife Development reports nil net profit/loss in the March 2010 quarter
 ( Results - Announcements 12-May-10   17:11 )
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