Bengaluru – 29th July 2024: Wonderla Holidays Limited, India’s largest and premier amusement park chain, has announced its financial results for the first quarter of the financial year ended June 30, 2024.
Highlights:
- Second highest ever quarterly Revenue and EBITDA since inception.
- Bangalore Park recorded 3.58 lakhs footfalls, Kochi Park recorded 2.75 lakhs footfalls and Hyderabad Park recorded 2.99 lakhs footfalls.
- Hyderabad Park recorded the highest-ever Revenue since inception.
- Kochi Park recorded the second-highest Revenue since inception.
- The fourth amusement park at Bhubaneswar has started commercial operations with effect from 24 May 2024.
- Bhubaneshwar Park recorded 0.70 lakhs footfalls.
- Recorded ARPU of Rs.1,680, a 3% growth YoY.
- Recorded SPH of Rs.442, a 15% growth YoY.
Quarter Update:
Footfalls for the first quarter ended June 30, 2024, were 10.02 lakhs, as against 11.02 lakhs during the corresponding period of the last financial year. Footfalls were notably affected by an unprecedented heatwave, water shortages, and disruptions related to ongoing election activities, especially in key markets like Bangalore and Kochi, leading to a decline compared to the same period last year.
Gross revenue for the first quarter ended on June 30, 2024, was Rs. 177.47 crore, marking a 7% de-growth compared to Rs. 190.27 crore achieved in the corresponding period of the last financial year.
EBITDA for the first quarter ended June 30, 2024, was Rs. 95.96 crore, marking a 25% de-growth compared to Rs. 122.50 crore achieved in the corresponding period of the last financial year.
Profit after tax for the first quarter ended June 30, 2024, was Rs. 63.24 crore, marking a 25% de-growth compared to Rs. 84.47 crore achieved in the corresponding period of the last financial year.
The Board of Directors has given in-principle approval for exploring fund raising options by way of Equity/debt/ instruments or any combination thereof to fund expansion plans for the next seven to eight years.
Business Outlook:
Commenting on the performance during the quarter, Mr. Arun K Chittilappilly, Managing Director said “With an accumulated footfall of 10.02 lakhs in the first quarter of FY 2025 and gross revenue amounting to Rs. 177.47 crores, Wonderla’s performance speaks volumes about its resilience and commitment to delivering unparalleled entertainment experiences, especially in a challenging quarter like this. Our parks were already operating at capacity during Q1 FY 24, and our efforts focused on boosting non-ticket revenue and attracting a larger share of retail footfall. Our primary focus was on cultivating higher-spending retail customers as opposed to groups. Footfalls were notably affected by an unprecedented heatwave, water shortages, and disruptions related to ongoing election activities, especially in key markets like Bangalore and Kochi, leading to a decline compared to the same period last year. Additionally, there has been a sluggishness in discretionary spending following a surge in ‘revenge tourism’ post-COVID in FY 23/24. At the same time, we are pleased to report that our newest park in Bhubaneswar, launched on 24 May 2024, has exceeded expectations, receiving a great reception since its inception. The company’s relentless dedication to innovation, quality, and customer satisfaction sets the stage for further expansion and success in the quarters to come. Our solid financials and ability to adapt to changing market dynamics make us a formidable contender in the amusement and entertainment sector.”