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SBI MF trims stake in Westlife Development


On 18 May 2021, SBI Mutual Fund (MF) sold 3,34,951 equity shares or 0.2150% stake of Westlife Development on the BSE.
Post transaction, SBI Mutual Fund (MF) decreased its shareholding in Westlife Development to 6.3851% stake from 6.60% held earlier. The deal was executed as a market sale on 18 May 2021.
Westlife Development reported a consolidated net loss of Rs 6.46 crore in Q4 FY21 as against a net loss of Rs 25.27 crore in Q4 FY20. Net sales increased 5.4% year-on-year (Y-o-Y) to Rs 350.95 crore during the quarter.
Westlife Development focuses on setting up and operating Quick Service Restaurants (QSR) in India through its subsidiary Hardcastle Restaurants. 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. ....

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Westlife Development gains on turnaround Q4 performance


Westlife Development rose 1.64% to Rs 428.70 after the company reported a consolidated net profit of Rs 2.09 crore in Q4 FY21 as against a net loss of Rs 16.66 crore in Q4 FY20.
Total revenue increased by 6.3% year-on-year (YoY) to Rs 357.59 crore during the quarter, despite regulatory headwinds, lockdowns, curfews and capacity limitations witnessed across markets. The company also reported a positive same-store sales growth (SSSG) of 10.5%.
Sales were driven by an almost complete recovery in dine-in and an impressive 142% growth across the company s convenience channels. Revenues from McDelivery and Drive Thru saw a YoY growth of 26% and 81% respectively. Even after dine in opened across the market, the company did not see a slowing down in its out of restaurant consumption. The company recorded its highest ever McDelivery Sales in March 2021 and the sales through the on-the-go channel grew over three times in the last three quarters. ....

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