Wonderla Holidays Limited registers a loss of 14.75 CR in Q3

Wonderla Holidays Ltd., India’s largest Amusement park chain has announced its financial results for the third quarter that ended on 31^st December 2020 for the Financial Year 2020-2021.

Highlights:

• The Ministry of Home Affairs under unlock 5.0 permitted Amusement Parks to reopen starting 15^th October 2020 onwards and they put a capacity restriction of 50%. Pursuant to MHA guidelines, during the quarter, Karnataka and Kerala State Governments allowed amusement parks to restart operations.

• Bangalore Park re-opened to the public on 13^th November with an invitation price of Rs. 699 (inclusive of GST) till 23^rd December 2020. 24^th December onwards ticket price changed to Rs. 999/person. During the Quarter, parks were open during weekends/holidays.

• Similarly, Kochi Park re-opened on 24^th December 2020 to the public with the invitation price of Rs. 699 (inclusive of GST)

• Bangalore Park achieved footfalls of 36,121 and Kochi Park achieved footfalls of 8,591 during the period. The Bangalore Park was functional only for three days every week, from Friday to Sunday. Kochi Park was open from 24^th to 31^st December on continuous days.

• Performance for the Quarter ended 31^st December 2020 was a loss of Rs. 1,475.09 lakhs against Rs 2,102.71 lakhs Profit After Tax declared by the company during corresponding period of last Financial Year. Loss for the nine months ended 31^st December 2020 was Rs. 4,506.15 lakhs against Rs. 6,322.07 lakhs Profit After Tax declared by the company during the corresponding period of last Financial Year.

• Wonderla initiated Warrior’s week to thank the COVID-19 frontline workers for their tremendous efforts during the pandemic and invited 12,000 COVID -19 frontline workers including their family members to the Bangalore Park from 9^th to 12^th November 2020. Similarly we invited 10,000 COVID -19 frontline workers including their family members to the Kochi Park from 20^th to 23^rd December 2020.  This was a huge success.
• Business Outlook: Commenting on the performance during the quarter, Mr. Arun K Chittilappilly, Managing Director said, “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 third quarter was the re-opening of our Bangalore Park & resort in November, and Kochi Park in December. We are delighted by the trust that our patrons have shown on us as we resumed business after eight months in November 2020, which reinforced our confidence to reopen all parks in a phased manner. During the 3^rd quarter, Bangalore Park was open from 13^th November to 31^st December and was functional only from Friday to Sunday and Christmas holidays, and achieved a footfalls of 36,121 visitors. Kochi Park was open from 24^th to 31^st December for Christmas holidays and achieved a footfalls of 8,591. We are slowly increasing the number of park open days from January 2021, and soon we hope to remain open on all days, across all parks.  As a testimony to our excellent hygiene practices, Wonderla Bangalore has become the first amusement park in India to be awarded a Diamond COV-Safe certification by Bureau Veritas India. 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”.