Wonderla Holidays skids after reporting Q4 net loss of Rs 5 cr

Wonderla Holidays slipped 1.59% to Rs 207.35 after the company reported net loss of Rs 4.87 crore in Q4 FY21 compared with net profit of Rs 1.56 crore in Q4 FY20.

Net sales dropped 21.5% to Rs 33.30 crore in Q4 FY21 over Q4 FY20. Pre-tax loss stood at Rs 6.28 crore in Q4 FY21 as against a pre-tax profit of Rs 0.42 crore in Q4 FY20. EBITDA during Q4 March 2021 dropped 46.69% to Rs 4.03 crore as against Rs 7.56 crore in Q4 March 2020. The resort achieved 28% occupancy during the fourth quarter of FY 2020-21 as against 33% during the corresponding period over last year.

During the financial year, Wonderla Holidays' standalone net loss stood at Rs 49.93 crore in FY21 compared with net profit of Rs 64.78 crore in FY20. Total revenue from operations fell 85.86% to Rs 38.27 crore in FY21 compared with Rs 270.87 crore in FY20.

The Hyderabad Park was re-opened to the public on 9 January 2021 with an invitation price of Rs 699 till 31 January 2021. The gross revenue during Q4 March 2021 stood at Rs 34.79 crore, which was 77% of the achievement as against the corresponding period of last financial year, recording Rs 44.91 crore.

In the Q4 FY21, Wonderla Holidays achieved a total footfall of 3.11 lakh as against 4.05 lakh in the corresponding period of last financial year, registering a 23.20% fall Y-o-Y (year-on-year). Its Bangalore park achieved 1.18 lakh, Kochi park achieved 0.82 lakh and Hyderabad Park achieved 1.11 lakh of footfall. During this quarter, in January 2021, parks were functional only from Thursday to Sunday and in February 2021, from Wednesday to Sunday and all them were opened on all the days in the month of March 2021.

For its business outlook, Arun K Chittilappilly, the managing director (MD) of Wonderla Holidays, commented: "The parks were shut down in March 2020 due to the pandemic and the revenue opportunity during the last 8 months was completely lost. The bright spot during the fourth quarter was the re-opening of our Hyderabad Park in January. We are delighted by the trust that our patrons have shown in us as we resumed business after eight months in November 2020, which reinforced our confidence to reopen all parks in a phased and we slowly increased the number of park open days in February from Wednesday to Sunday and finally with the support of our customers in the month of March we opened all our parks in all days."

"During the period, we tasted success with many innovative offerings like Women only outing on Women's day, Valentines' day package for the couple for Parks and Resort, free entry to anyone named Kamala to honour the US VP's win which gave us a tremendous visibility across the world. As a testimony to our excellent hygiene practices, all Wonderla Parks have received the COV-Safe certification by Bureau Veritas India and become the first amusement park in India to be awarded for the same. We wanted to reassure our visitors of safety and hygiene followed at the theme park and this certification is a step ahead in that direction. We look forward to offering the public an opportunity to unwind and relax at Wonderla soon."

Wonderla Holidays operates three amusement parks in Kochi, Bangalore and Hyderabad under the brand name Wonderla.

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