Rise in domestic tourism has contributed to Wonderla Holidays registering its highest ever quarterly footfall of 1.1 million in Q1 of FY23. The amusement park chain also reported gross revenue of ₹150 crore in Q1 compared to ₹5.43 crore and a footfall of 0.34 lakh in the corresponding period of the previous fiscal.
Profit After Tax (PAT) in Q1 ₹64.38 crore against a loss after tax of ₹13.25 crore in the corresponding period of last fiscal .
Arun K Chittilappilly, Managing Director, said, “We are back to pre-Covid levels and delivered a strong performance during the quarter. The summer has been encouraging with footfall contribution from both walk-in and groups in all the three parks and this is our highest ever quarterly footfalls, revenue, EBITDA, and PAT since inception. The surge in domestic tourism and the phenomenon of “revenge travel” also contributed to the rise in footfalls. Our performance is reflective of strategic focus on footfall from various segments, experimenting with new areas like Events, Ride Plus activities and F&B offerings and the operational excellence of our business. We are confident that the footfall will show an uptrend across all the locations in the following quarters.”
Double digit growth
Bangalore Park recorded 4.23 lakhs footfalls (7 per cent above Q1 FY20), Kochi Park recorded 3.48 lakhs footfalls (38 per cent above Q1 FY20) and Hyderabad Park recorded 3.47 lakhs footfalls (39 per cent above Q1 FY20).
The company posted double digit revenue growth across units, driven by robust footfall numbers. Park revenue was up by 27 per cent compared to Q1 FY20.
The company has signed an agreement with the Odisha Government for leasing land of 50.63 acres towards development of amusement park project in Bhubaneswar.