McDonald's India operator posts higher quarterly profit as cheaper menu draws consumers
May 14 (Reuters) - Westlife Foodworld (WEST.NS), opens new tab, the operator of McDonald's (MCD.N), opens new tab in parts of India, reported a jump in fourth-quarter profit on Wednesday, as its cheaper menu items attracted budget-conscious consumers.
The restaurant operator's consolidated profit after tax rose to 15.2 million rupees ($178,163.28) for the quarter ended March 31 from 7.6 million rupees a year ago.
Indian operators of U.S. chains of KFC (YUM.N), opens new tab and Burger King (QSR.TO), opens new tab are launching more cheaper items, including $1 pizza and burger, to compete with local rivals at a time when the high cost of living is prompting consumers to cut back discretionary spending.
During the quarter, Westlife actively advertised its breakfast options and coffee, starting at a little more than $1. The efforts helped the franchisee report a 7.2% increase in revenue from operations to 6.03 billion rupees.
Westlife's shares were up 0.2% after the results.
($1 = 85.3150 Indian rupees)
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