Wonderla Holidays Limited Q3 results: Revenue rises 62% over FY20 to INR 118 Crores, Footfalls over 9 Lakhs

AMN / Bengaluru

Wonderla Holidays Limited, India’s largest Amusement Park chain has announced its financial results for the third quarter of the financial year ended 31^st December 2022.

Highlights:

·         Footfall surpasses pre-pandemic level. Achieved 28% growth in Footfalls compared to Q3 FY20. 

·         Bangalore Park recorded 3.21 lakhs footfalls (42% above Q3 FY20), Kochi Park recorded 3.16 lakhs footfalls (19% above Q3 FY20) and Hyderabad Park recorded 2.82 lakhs footfalls (23% above Q3 FY20).

·         Double digit revenue growth across units, driven by robust footfall numbers.

·         Sharp rebound in Resort performance. Highest ever occupancy at 72% and Revenue up by 71% compared to Q3 FY20.

Quarter update:

• Footfalls for the Third Quarter ended 31^st December 2022 was 9.2 lakhs as against 7.2 lakhs during Q3 FY20.  Footfall contribution from both the retail and institutional channels.

• Gross Revenue for the Third Quarter ended 31^st December 2022 was Rs.117.8 crores as against Rs.72.7 crores during Q3 FY20.

• EBITDA for the Third Quarter ended 31^st December 2022 was Rs.61 crores as against Rs.27.7 crores during Q3 FY20

• Profit After Tax for the Third Quarter ended 31^st December 2022 was Rs.38.9 crores as against Rs.21 crores during Q3 FY20.

Nine Months’ update:

• Footfalls for the Nine Months surpasses 25.1 lakhs as against 19.8 lakhs during the corresponding period of FY20.  Positive and affirmative response from all the segments.

• Gross Revenue for the Nine Months ended 31^st December 2022 was Rs.339.8 crores as against Rs.238 crores during the corresponding period of FY20.

• EBITDA for the Nine Months ended 31^st December 2022 was Rs.178.3 crores as against Rs.108.6 Cr during the corresponding period of FY20.

• Profit After Tax for the Nine Months ended 31^st December 2022 was Rs.113.9 crores as against Rs.63.2 crores during the corresponding period of FY20.

• Recorded highest ever EPS since inception.

Business Outlook:

Commenting on the performance during the quarter, Mr. Arun K Chittilappilly, Managing Director said “We delivered a strong performance during the quarter. The significant boost in the number of visitors was due to the increase in domestic tourism, walk-in customers, and the revival of student excursion trips.  Our success was attributed to a focus on attracting visitors through various segments such as Events, Ride Plus activities, F&B offerings, and efficient operations. We are happy with the overall business performance during the quarter and growth is expected to continue in the coming quarters. The construction of our new park in Bhubaneswar, Odisha has begun, and the aim is to open it by 2025.”

About Wonderla Holidays Ltd:

Wonderla Holidays Limited is India’s largest and most popular amusement park operator. The company currently owns and operates three amusement parks in Kochi, Bengaluru, Hyderabad and a resort at Bangalore named ‘Wonderla Resort’. Many of its rides are custom made and imported from reputed international suppliers, making them unique in India. Wonderla parks have been visited by over 3.5 crores visitors since 2000 making them the most visited amusement parks in India. Wonderla is among the top ranked amusement parks in India and Asia.