Even as several companies struggle to stay afloat during the coronavirus pandemic, Westlife Development Limited is an outlier with the company announcing double digit-revenue growth in the year ending March.
Even as several companies struggle to stay afloat during the coronavirus pandemic, Westlife Development Limited, which runs McDonald’s restaurants in West and South India, is an outlier with the company announcing double digit-revenue growth in the year ending March. The same was strongly driven by online food delivery of McDonald’s products. “McDelivery charted a phenomenal trajectory and emerged as one of the most critical growth drivers for the company,” Westlife Development announced in a statement on Friday. The company has about 264 McDelivery hubs and “has strong relationships with food delivery aggregators”.
As the coronavirus marks a shift in consumer behaviour, the company expects that it will be able to capture the delivery market which is likely to explode in coming times. McDonald’s had recently tied up with online food aggregators such as Swiggy and Zomato to deliver its food items to customers’ doorsteps. The company was also an early mover to contactless delivery when coronavirus cases started to get reported in India as well. Meanwhile, Westlife Development now looks to become a food-tech company by leveraging technology to enhance customer experience. “The company has been weaving technology across its operations with an aim to become a food-tech company. The company also leveraged technology enable contactless takeout and deliver added convenience and assurance to its customers,” it said.
Year-end results takeaway
- Westlife Development reported annual revenue growth of 10.4%.
- The company’s PAT has surged by 71.9%.
- WDL reported annual revenue increase to Rs 15,477.6 million.
- Westlife Development witnessed cash profit for the year at Rs 1,340.6 million. It is a 23.6% increase from the comparable period a year ago.
- WDL’s Restaurant Operating Margins grew by 11.9% on-year. The same was driven by enhanced operating and supply chain efficiencies,
- The company’s annual operating EBITDA clocked a growth of 15.8% to Rs 1,439.3 million.
In the last financial year, the company’s focus was on value and enhancing customer experience. The company now has 319 restaurants.