Hyderabad, July 29 (UNI)Wonderla Holidays Limited, India's largest and premier amusement park operator, on Monday reported a 25 percent de-growth in its profit after tax (PAT) at Rs 63.24 crore for the first quarter of the financial year ended June 30, 2024 as compared to Rs. 84.47 crore in the corresponding period of the previous year.
Footfalls also fell during the quarter to 10.02 lakhs, as against 11.02 lakhs during the corresponding period of the last financial year, the company said in a release.
The Board of Directors has given in-principle approval for exploring fundraising options by way of Equity/debt/ instruments or any combination thereof to fund expansion plans for the next seven to eight years.
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.
The company operates four world-class amusement parks in Kochi, Bengaluru, Hyderabad, and Bhubaneswar, along with the acclaimed Wonderla Resort in Bengaluru.
The company’s gross revenue during the quarter was Rs. 177.47 crore, marking a 7 percent de-growth compared to Rs. 190.27 crore achieved in the corresponding period of the last financial year.
Wonderla recorded its Second-highest Quarterly Revenue since Inception, Rs.177.47 crores, and surpassed 1 Million Footfalls despite de-growth.
Commenting on the performance during the quarter, 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”.
“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”, he said.
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, he claimed.
The company's relentless dedication to innovation, quality, and customer satisfaction sets the stage for further expansion and success in the quarters to come, he added.
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