Westlife Development, which operates McDonald’s restaurants in southern and western region in India, plans to invest Rs 100 crore to open up to 30 outlets of the quick service restaurant brand in the current financial year.
The company, which now witnesses more than half of its sales from convenience channels such as delivery, takeaways and drive-thru, is bullish about Growth in FY’22, leaving out the next 2-3 months.
In the last quarter of the 2020-21, 55-60 per cent of the company’s sales came from convenience channels and 40-45 per cent from in-store business.
Westlife Development reported narrowing of loss to Rs 6.45 crore for March quarter 2020-21, helped by higher income. It had posted a net loss of Rs 25.26 crore in January-March period a year ago.
Its revenue from operations stood at Rs 357.58 crore, up 6.31 per cent from Rs 336.35 crore in March quarter 2019-20.