The company owns Hardcastle Restaurants - the master franchisee of McDonald's restaurants for west and south India.

Total Revenues declined 75.4% on a year-on-year (YoY) basis to Rs 93.89 crore in the June quarter.

The company reported a negative operating EBITDA of Rs 57.68 crore with a negative operating EBITDA margin of 61.4% in Q1 June 2020. It had reported a operating EBITDA of Rs 32.63 crore with a operating EBITDA margin of 8.5% in Q1 June 2019.

The Quick Service Restaurants operator recorded a pre-tax loss of Rs 76.82 crore in Q1 FY21 as against pre-tax profit of Rs 8.51 crore in Q1 FY20.

The company started seeing green shoots in the business starting June 2020, as the lock-down started easing in select markets. The company's convenience platform which includes Delivery, Take-Out and Drive-Thru channels showed great results as sales from these platforms bounced back to pre-COVID levels, for operational stores. Per day per store McDelivery sales bounced back to 70% of pre-COVID levels and daily take-out sales from operational stores surged 1.7 times vis-à-vis pre-COVID levels.

Additionally, convenience platform sales came back to pre-COVID levels for operational Drive-thru stores. The company is confident of growing this momentum and further accelerating sales in the coming months.

Westlife Development (WDL) focuses on setting up and operating quick service restaurants (QSR) in India through its subsidiary Hardcastle Restaurants (HRPL). The company operates a chain of McDonald's restaurants in West and South India, having a master franchisee relationship with McDonald's Corporation USA, through the latter's Indian subsidiary.

The scrip slipped 0.70% to Rs 352.20. It traded in the range of 352.20 and 355 during the day.

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Net Loss of Westlife Development reported to Rs 60.54 crore in the quarter ended June 2020 as against net loss of Rs 1.13 crore during the previous quarter ended June 2019. Sales declined 75.35% to Rs 93.78 crore in the quarter ended June 2020 as against Rs 380.37 crore during the previous quarter ended June 2019.

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Net Loss of Westlife Development reported to Rs 0.06 crore in the quarter ended June 2020 as against net loss of Rs 0.05 crore during the previous quarter ended June 2019. Sales rose 72.73% to Rs 0.19 crore in the quarter ended June 2020 as against Rs 0.11 crore during the previous quarter ended June 2019.

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Mindtree Ltd, Repco Home Finance Ltd, Tata Coffee Ltd, Esab India Ltd are among the other stocks to see a surge in volumes on BSE today, 29 July 2020.

Westlife Development Ltd recorded volume of 6.6 lakh shares by 10:53 IST on BSE, a 48.88 times surge over two-week average daily volume of 13492 shares. The stock gained 4.60% to Rs.368.40. Volumes stood at 15269 shares in the last session.

Mindtree Ltd witnessed volume of 9.67 lakh shares by 10:53 IST on BSE, a 15.3 times surge over two-week average daily volume of 63187 shares. The stock dropped 0.25% to Rs.1,049.50. Volumes stood at 81453 shares in the last session.

Repco Home Finance Ltd saw volume of 1.37 lakh shares by 10:49 IST on BSE, a 13.42 fold spurt over two-week average daily volume of 10193 shares. The stock increased 4.98% to Rs.152.90. Volumes stood at 835 shares in the last session.

Tata Coffee Ltd witnessed volume of 3.6 lakh shares by 10:53 IST on BSE, a 7.91 times surge over two-week average daily volume of 45542 shares. The stock increased 11.59% to Rs.92.90. Volumes stood at 69434 shares in the last session.

Esab India Ltd notched up volume of 1550 shares by 10:53 IST on BSE, a 3.8 fold spurt over two-week average daily volume of 408 shares. The stock rose 6.72% to Rs.1,419.35. Volumes stood at 54 shares in the last session.

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