February 10 2016, 16.21 PM IST || Pocket News Alert
Bangalore– 10th February 16:Wonderla Holidays Ltd has announced its results for the Third quarter ended December 31, 2015 of FY 15-16.
Highlights:
· Gross Revenue for the Nine Months ending December 31, 2015-16 fiscal were Rs. 17,655.06 lakhs, an increase of 15.56% over corresponding period of last financial year (Rs. 15,276.80 lakhs). Similarly the gross revenue for the Third Quarter, ending December 31, 2015-16 fiscal, were Rs5,308.43 lakhs; an increase of 7.30% over corresponding period last financial year (Rs4,947.41.lakhs).
· Profit after Tax for the Nine month period ending December 31, 2015-16 fiscal wereRs. 5224.90 lakhs , an increase of 18.60% over corresponding period of last financial year (Rs. 4404.49 Lakhs) . The profit after tax for the Third Quarter, ending December 31, 2015-16 fiscal, was Rs 1225.87lakhs; a decline of 4%over corresponding period last financial year (Rs.1276.65 lakhs). The decrease in profit can mainly be attributed to increase in employee costs by about 25%, as many top-level recruitments have been done to strengthen the top management team.
· Business Outlook:
“We are generally satisfied with the performance during the third quarter of the ongoing financial year. We have recorded a 7.3% growth in revenue in spite of a 11.7 % decline in the footfalls at the parks during the quarter, mainly due to unfavorable weather conditions during November. We are seeing a rebound in footfalls, and are optimistic about growth in footfall in the coming quarters for both existing amusement parks. We are also eagerly waiting to launch our brand new amusement park in Hyderabad to public within a couple of months. Said Mr. Arun K Chittilappilly, Managing Director, Wonderla Holidays Ltd.
Updates:
· There was an overalldecrease of11.70% in visitors during the Third quarter ended on December 31, 2015and 5.50% decrease during the Nine Months period ended 31st December 2015.
· Work at our Hyderabad Park is progressing as scheduled and we expect that the park will be commercially operational from Q1 of F.Y 16-17.
