India's Westlife Foodworld posts quarterly profit drop as competition bitesFeb 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)
(Reporting by Urvi Dugar in Bengaluru and Praveen Paramasivam in Chennai; Editing by Mrigank Dhaniwala)
((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))
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