Wonderla Holidays Ltd. – one of the largest operators of amusement parks in India has announced its results for the third quarter ended December 31, 2014 of FY 14-15.
Highlights:
- Gross Revenue for the third Quarter, ending December 31, 2014-15 fiscal, were Rs.4947.41 lakhs; an increase of 19% over corresponding period last financial year (Rs.4156.74 lakhs). Similarly the Gross Revenue for the nine months period ending December 31, 2014-15 fiscal, were 15276.80 lakhs, an increase of 25.70% over corresponding period last financial year (Rs 12154.76 lakhs).
- Profit after Tax for the third Quarter, ending December 31, 2014-15 fiscal, were Rs.1276.65 lakhs; an increase of 3% over corresponding period last financial year (Rs. 1239.49 lakhs). Profit from operating activities before tax for the quarter has increased to Rs.1851.97 lakhs shown an increase of 20% .Similarly, the profit after Tax for the nine months period ending December 31 2014-15 fiscal were Rs 4404.49 lakhs, an increase of 35% over corresponding period of last financial year (Rs 3274.20 Lakhs).
- Revenue from the two amusement parks – Bangalore and Kochi – was Rs 4487.24 lakhs for the quarter under review while the revenue from resort was Rs 277.59 lakhs. Similarly the Revenue from amusement parks for the nine months period ended December 31 2014 was Rs 13886.81 lakhs while the revenue from resort was Rs 791.15 lakhs.
- Construction has started at Hyderabad in full swing and we are hopeful of completing the third project on time. We have started recruiting personnel in existing parks and they are undergoing training for transfer to Hyderabad.
- The footfalls in existing parks were flat for the quarter due to due to govt. restrictions on educational institutions for picnics and outings at both Bangalore and Kochi.
- Operating costs for the quarter have increased mainly due to new recruitments done in existing parks for transfer to Hyderabad, and due to unscheduled maintenance of some rides and facilities.
- The Resort division has had a great quarter with an occupancy rate of 50% for Q3 of this financial year; an increase of 56% over corresponding period of last financial year (32%).
Business Outlook: Commenting on the company’s performance
Mr. Arun K Chittilappilly, Managing Director, Wonderla Holidays Ltd. said
“We are satisfied with our performance during the third quarter of the ongoing financial year. The third quarter didn’t show any significant footfall growth, due to restrictions on educational institutions for picnics and outings in both Bangalore and Kochi. We continue to be optimistic about growth coming in from both the amusement parks, and we are happy to announce the commencement of construction at the third amusement park project in Hyderabad” About Wonderla Holidays Ltd: Wonderla Holidays Limited is one of the largest operators of amusement parks in India. It is promoted by Arun K Chittilappilly and Kochouseph Chittilappilly, who in the year 1996 had incorporated V-Guard Industries Limited. It currently owns and operates two amusement parks under the brand name ‘Wonderla’, situated at Kochi and Bangalore. It also owns and operates a resort beside its amusement park in Bangalore under the brand name ‘Wonderla Resort’, which has been operational since March 2012. Wonderla’s amusement parks offer a wide range of water and land based attractions catering to all age groups. It has 24 water based attractions and 35 land based attractions at Wonderla Kochi and 20 water based attractions and 37 land based attractions at Wonderla Bangalore.
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