(Reuters) – Westlife Foodworld, the operator of McDonald’s restaurants in west and south India, reported a smaller-than-expected quarterly profit on Thursday, hit by sustained weak demand as cost-conscious customers cut back on spending.
The restaurant operator’s consolidated profit after tax stood at 3.6 million rupees ($42,832.16) for the second quarter ended Sept. 30, down from 223.7 million rupees a year ago, according to a regulatory filing.
Analysts, on average, expected a profit of 48.9 million rupees, according to data compiled by LSEG.
($1 = 84.0490 Indian rupees)
(Reporting by Praveen Paramasivam in Chennai and Ashna Teresa Britto in Bengaluru; Editing by Abinaya Vijayaraghavan)
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