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Shares of Wonderla Holidays surged 13 per cent to Rs 425 on the BSE in Wednesday’s intra-day trade on the back of heavy volumes after the company reported a strong 85 per cent year-on-year (YoY) jump in its profit after tax to Rs 38.90 crore in the December quarter (Q3FY23) given a healthy operational performance.
The stock of India’s largest amusement park chain was trading close to its 52-week high level of Rs 455, touched on September 20, 2022. At 01:03 pm; it was quoting 9 per cent higher at Rs 409 as compared to a 0.65 per cent rise in the S&P BSE Sensex. The average trading volumes on the counter jumped multiple-fold with a combined 1.4 million equity shares having changed hands on the NSE and BSE.
Wonderla Holidays reported double digit revenue growth across units, driven by robust footfall numbers. In Q3FY23, footfalls for the quarter were 0.92 million as against 0.72 million during Q3FY20.
Revenue from operations increased 71 per cent quarter-on-quarter (QoQ) and 134 per cent YoY to Rs 113.2 crore. The earnings before interest, depreciation, tax and amortization (EBITDA) came at Rs 56.45 crore, up 190 per cent QoQ and 295 per cent YoY, with EBITDA margin of 33.07 per cent (up 2,045 bps QoQ, and 2,035 bps on a yearly basis).
The management said the significant boost in the number of visitors was due to the increase in domestic tourism, walk-in customers, and the revival of student excursion trips.
“We are happy with the overall business performance during the quarter and growth is expected to continue in the coming quarters. The construction of our new park in Bhubaneswar, Odisha has begun and we aim to open it by 2025,” the management said.
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