Westlife Foodworld's shares decline over 7 pc

NewsDrum Desk
27 Oct 2023
New Update

New Delhi, Oct 27 (PTI) Shares of Westlife Foodworld Ltd fell more than 7 per cent on Friday, a day after the company reported a 29.05 per cent decline in its consolidated net profit to Rs 22.37 crore for the September quarter.


Westlife Foodworld's subsidiary Hardcastle Restaurants is the master franchisee of McDonald's restaurants in West and South India.

The stock of the company declined 7.69 per cent to close at Rs 815 apiece on the NSE.

On the BSE, Westlife Foodworld's shares plunged 6.71 per cent to settle at Rs 820.35 apiece.


In traded volume terms, 12.55 lakh equity shares of the company were traded on the NSE, while 32,000 shares were on the BSE, during the day.

The 30-share BSE Sensex jumped 634.65 points and closed at 63,782.80 points, while NSE Nifty climbed 1.01 per cent to settle at 19,047.25 points.

On Thursday, Westlife Foodworld Ltd reported a 29.05 per cent decline in consolidated net profit to Rs 22.37 crore for the second quarter of the ongoing fiscal due to challenging market conditions.

The company had posted a net profit of Rs 31.53 crore in the year-ago period, the company said in a regulatory filing.

However, the company's sales grew 7.11 per cent to Rs 610.82 crore during the period under review as against Rs 570.23 crore in the corresponding quarter last fiscal, the company added. PTI HG HG TRB TRB