Wonderla Holidays, one of the largest operators of amusement parks in India has announced its results for the fourth quarter and for the ...
Wonderla Holidays Ltd. – one of the largest operators of amusement parks in India has announced its results for the fourth quarter and for the financial year ended March 31, 2015.
- Gross Revenue for the year ending March 31, 2014-15 wereRs.19211.66 lakhs; an increase of 23.13%over corresponding period last financial year (Rs 15603.19 lakhs). Similarly the Gross Revenue for the 4th Quarter ending March 31 of the 2014-15 fiscal, were 3934.86 lakhs, an increase of 14.11% over corresponding period last financial year (Rs.3448.43 lakhs).
- Profit after Tax for the financial year ending March 31 of the 2014-15, were Rs. 5063.05 lakhs;an increase of 26.92% over corresponding period last financial year (Rs. 3989.20 lakhs).
- Profit after Tax for the quarter under review was 658.56 lakhs, as against 715.00 lakhs for same period last year, showing a decline of 7.89%. This is mainly due to provisions created by the company to the extent of 314.21 lakhs for disputed demands of Entertainment tax and Service tax for the Kochi Park.
- The construction of our Hyderabad Park is fast progressing, and we have received all necessary approvals. We have invested 5794.37 Lakhs on the project till date.The project is expected to be operational by April 2016.
- The company recorded a total footfall of 23.40 lakhs as on March 31, 2015 compared to the total footfalls of 22.91 lakhs for the year ending March 31, 2014
- The Resort division had a great year with an occupancy rate of 45% for this financial year; an increase of 50% over corresponding period of last financial year (30 %
Commenting on the company’s performanceMr. Arun K Chittilappilly, Managing Director, Wonderla Holidays Ltd. said“We are happy with the revenues that the company has achieved during the fourth quarter of the financial year. We continue to be optimistic about the performance of both the Bangalore and the Kochi parks, although there are short term challenges in terms of footfall growth. This is due to the added service tax burden of 14% to our customers from June 1, 2015. We look forward to commencing operations at the Hyderabad Park in the coming year and hope to establish a park in Chennai by FY2019.”
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 23 water based attractions and 35 land based attractions at Wonderla Kochi and 21 water based attractions and 39 land based attractions at Wonderla Bangalore.
Photo Caption: Wonderla net profit surges by 27% in the Financial Year 2014-15 and recommends a dividend of 15%