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10% Revenue Growth in Q3
Wonderla had a good quarter as business continued to grow.
Bangalore – 8th February 2024: Wonderla Holidays Limited, India’s largest Amusement Park chain has announced its financial results for the quarter and nine months ended 31st December 2023.
Highlights:
· Wonderla Bangalore Park recorded 3.52 lakhs footfalls, Wonderla Kochi Park recorded 2.97 lakhs footfalls and Wonderla Hyderabad Park recorded 2.96 lakhs footfalls.
· Park revenue was up 9% compared to Q3 FY23 and recorded a healthy ARPU of Rs.1,256.
Quarter update:
Footfalls for the Third Quarter ended 31st December 2023 was 9.45 lakhs against 9.19 lakhs during Q3 FY23.
Gross Revenue for the Third Quarter ended 31st December 2023 was Rs.129.52 Crore as against Rs.117.76 Crore during Q3 FY23.
EBITDA for the Third Quarter ended 31st December 2023 was Rs.60.44 Crore as against Rs.61.01 Crore during Q3 FY23.
Profit After Tax for the Third Quarter ended 31st December 2023 was Rs.37.36 Crore against Rs.38.94 Crore during Q3 FY23.
Nine Months’ update:
Footfalls for the Nine Months ended 31st December 2023 was 25.43 lakhs as against 25.07 lakhs during the corresponding period of FY23.
Gross Revenue for the Nine Months ended 31st December 2023 was Rs.401.19 Crore as against Rs.339.79 Crore during the corresponding period of FY23.
EBITDA for the Nine Months ended 31st December 2023 was Rs.209.59 Crore as against Rs.178.31 Crore during the corresponding period of FY23.
Profit After Tax for the Nine Months ended 31st December 2023 was Rs.135.35 Crore as against Rs.113.85 Crore during the corresponding period of FY23.
· Business Outlook:
Reflecting on the quarter’s performance, Mr. Arun K Chittilappilly, Managing Director, remarked, “We’ve witnessed a robust rebound, delivering a strong performance during the quarter. Our strategic focus on diverse footfall segments, coupled with innovations in Events, Ride Plus activities, and F&B offerings, alongside operational excellence, has yielded positive results. The strong footfall numbers recorded across our Bangalore, Kochi, and Hyderabad parks are a testament to the enduring appeal of our offerings. Additionally, the 9% increase in park revenue compared to the previous quarter, along with a healthy Average Revenue Per User (ARPU) of Rs.1,256, showcases the robust financial performance of our business. We’re pleased with the overall performance and anticipate a continued uptrend in footfall across all locations in the upcoming quarters. We are pleased to announce that our 4th amusement project in Bhubaneshwar, will open ahead of schedule in Q1 of FY 25, 3 months earlier than expected. We hope to capitalise on the coming summer season for our brand-new park. Chennai Park is under construction, and we hope to open in FY 26.
