Board approves Q2 and half-year results; consolidated profit after tax turns to a loss
Board met 23 Oct 2026 and approved unaudited consolidated and standalone results for the quarter and half year ended 30 Sep 2026, after audit committee review.
By ScoutQuest · · 2 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 74,672.50 | 64,185.16 | +16.3% | 73,563.85 | +1.5% |
| Total income | 75,258.52 | 65,255.03 | +15.3% | 74,222.71 | +1.4% |
| Profit before tax | (269.53) | 3,695.32 | — | 78.80 | — |
| Profit after tax | (203.98) | 2,770.94 | — | 58.68 | — |
| Total comprehensive income | (228.58) | 2,773.95 | — | 62.38 | — |
| Basic EPS | (0.13) | 1.78 | — | 0.04 | — |
- Total income YoY change
- +15.3% (year ago 65,255.03)
- Period
- 3 months ended 30/09/2026
Auditor's review
Conclusion: Unmodified
- Other matter: a subsidiary with total assets of Rs. 4,466.41 lakhs reviewed by its independent auditor; conclusion not modified in respect of this matter.
Notes to the results
- Quarter ended Sep 30, 2025 included exceptional gain of Rs. 5,816.68 lakh on a redevelopment transaction of a Mumbai store property.
- Quarter ended Sep 30, 2025 included exceptional item of Rs. 536.07 lakh towards impairment of investment by subsidiary HRPL.
- Year ended March 31, 2026 included exceptional item of Rs. 968.59 lakh for incremental gratuity impact of the New Labour Codes.
The company runs McDonald's restaurants across West and South India, largely through its wholly owned subsidiary Hardcastle Restaurants Private Limited. It has shared results for the July to September 2026 quarter and for the six months from April to September 2026.
What the board meeting covered
- The Board of Directors met on 23rd October 2026 and approved the unaudited consolidated and standalone financial results for the quarter and half year ended 30th September 2026.
- The audit committee reviewed and recommended the results before the board approved them.
- The statutory auditors, S R B C & CO LLP, issued limited review reports on both sets of results. Their conclusion is unmodified: nothing came to their attention that would suggest the statements contain a material misstatement or miss a required disclosure. A limited review is a lighter check than a full audit, so it gives moderate assurance rather than an audit opinion.
The consolidated numbers (they include Hardcastle Restaurants and the Westlife ESOS Trust):
- Revenue from operations: Rs. 74,672.50 lakh for the quarter, against Rs. 64,185.16 lakh in the same quarter last year.
- Profit/(Loss) before exceptional items and tax: a loss of Rs. 269.53 lakh.
- Profit after tax: a loss of Rs. 203.98 lakh, against a profit of Rs. 2,770.94 lakh in the year-ago quarter.
- Profit after tax for the half year: a loss of Rs. 45.43 lakh.
- Basic earnings per share for the quarter: Rs. (0.13).
Why the year-ago quarter looked much stronger
The September 2025 quarter carried an exceptional item, a gain of Rs. 5,816.68 lakh from a redevelopment transaction in which the group transferred its rights in an existing store property in Mumbai in exchange for alternate store property and some monetary consideration. That one-off sits inside the year-ago reported profit.
What a retail investor can take away
- The auditor's wording matters. An unmodified limited review conclusion means the reviewer did not flag a material problem with how the numbers are presented or disclosed.
- Reported profit after tax in a single quarter can be distorted by one-time items. The line before exceptional items is the one that shows the quarter's trading position, and here it is a loss of Rs. 269.53 lakh.
- Revenue and profit moved in different directions: revenue from operations is higher than a year ago, while profit after tax is lower and basic earnings per share for the quarter is negative at Rs. (0.13).
- The half-year picture is a modest loss at the profit after tax level, Rs. 45.43 lakh, after a profitable June quarter offset part of the September quarter's loss.
How the group describes itself
The notes state that the group operates in a single business segment, running McDonald's restaurants, and a single geographical segment, India, since it serves the domestic market only. Hardcastle Restaurants Private Limited is a wholly owned subsidiary and the Westlife ESOS Trust is also consolidated.
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Analyst recommended Westlife as a strong technical long bet after strong Q2 numbers showed narrowing losses and good same-store sales growth
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Westlife Foodworld Q2 FY27: sales up 16% to ₹7.47 bn on 10.1% SSSG, Op. EBITDA up 29%
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More numbers
- Exceptional item: gain on redevelopment transaction, quarter ended 30/09/20255,816.68 lakh
- Consolidated Profit after tax, half year ended 30/09/2026(45.43) lakh
- Total income, latest quarter75,258.52 (Rs. in Lakhs)
- Total income, year-ago quarter65,255.03 (Rs. in Lakhs)
- Total income, previous quarter74,222.71 (Rs. in Lakhs)
- Total comprehensive income, latest quarter(228.58) (Rs. in Lakhs)
- Total comprehensive income, year-ago quarter2,773.95 (Rs. in Lakhs)
- Total comprehensive income, previous quarter62.38 (Rs. in Lakhs)
- Profit after tax, latest quarter(203.98) (Rs. in Lakhs)
- Profit after tax, year-ago quarter2,770.94 (Rs. in Lakhs)
- Profit after tax, previous quarter58.68 (Rs. in Lakhs)
- Revenue from operations, latest quarter74,672.50 (Rs. in Lakhs)
- Revenue from operations, year-ago quarter64,185.16 (Rs. in Lakhs)
- Revenue from operations, previous quarter73,563.85 (Rs. in Lakhs)
- Profit before tax, latest quarter(269.53) (Rs. in Lakhs)
- Profit before tax, year-ago quarter3,695.32 (Rs. in Lakhs)
- Profit before tax, previous quarter78.80 (Rs. in Lakhs)
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