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 Development reports consolidated net profit of Rs 15.32 crore in the March 2022 quarter
 ( Results - Announcements 18-May-22   17:05 )
  Westlife Development reports consolidated net loss of Rs 1.13 crore in the June 2019 quarter
 ( Results - Announcements 25-Jul-19   17:23 )
  McDonald's India launches innovative ‘Protein Plus Range'
 ( Corporate News - 24-Jul-25   14:36 )
  Westlife Foodworld to install rooftop solar panels on new restaurants in FY24
 ( Corporate News - 02-Jun-23   12:01 )
  Puravankara Ltd leads gainers in 'A' group
 ( Hot Pursuit - 06-Dec-22   12:00 )
  Westlife Development AGM scheduled
 ( Corporate News - 13-Aug-22   11:03 )
  Westlife Development reports standalone net loss of Rs 0.16 crore in the March 2022 quarter
 ( Results - Announcements 18-May-22   15:59 )
  Westlife Foodworld schedules AGM
 ( Corporate News - 07-Aug-23   17:07 )
  Volumes soar at Westlife Foodworld Ltd counter
 ( Hot Pursuit - 06-Dec-24   11:00 )
  Westlife Development announces board meeting date
 ( Corporate News - 06-Aug-21   14:44 )
  Westlife Development allots 10,000 equity shares under ESOP
 ( Corporate News - 11-May-21   12:22 )
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