Wonderla Q2 profit up 85 percent to Rs 11.94 crore

Wonderla Holidays said second quarter profit grew 85 per cent to Rs 11.94 crore on increased footfalls at its partk andd resorts during the festive season.

Revenue grew 31.4 per cent to Rs 48.81 crore as business grew from both the amusement parks it owns. Wonderla reported a profit of Rs 6.44 crore on revenue of Rs 37.1 crore during the same period last year.

"We are happy with our performance during the second quarter of the ongoing financial year. We had good footfalls at the park and resort during the festive seasons and We are optimistic about growth coming in from both the amusement parks. said Mr. Arun K Chittilappilly, Managing Director, Wonderla Holidays Ltd said in a statement.

Analysts say the company has performed well and expect better growth due to its negative working capital, negligible debt.

"Going ahead, we expect the company to report a healthy growth in footfalls with it setting up a new amusement park in Hyderabad, which would be operational in FY2017. Moreover, the company has negative working capital, negligible debt, and is able to post a healthy return ratio, which makes the balance sheet all the more attractive, said Amarjeet Maurya, senior research analyst at Angel Broking in a note.