India's Westlife Foodworld posts quarterly profit drop as competition bites

Westrock Coffee Company +3.04%
McDonald's Corporation -0.05%

Westrock Coffee Company

WEST

4.40

+3.04%

McDonald's Corporation

MCD

307.14

-0.05%

Feb 4 (Reuters) - Westlife Foodworld WEST.NS, a McDonald's MCD.N franchisee in India, reported over 85.45% decline in quarterly consolidated profit on Wednesday, hurt by stiff competition from local rivals and higher costs.

The restaurant operator posted consolidated profit after tax of 10.2 million rupees ($112,938) for the third quarter ended December 31, down from 70.1 million rupees a year earlier.



($1 = 90.3150 Indian rupees)


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