Wonderla Q1 FY25 Footfalls Drop to 10.02 Lakhs Due to Heatwave and Election Disruptions
Wonderla Q1 FY25 sees footfalls drop to 10.02 lakhs due to heatwave and election disruptions, with Bangalore and Kochi Parks losing footfalls, while Hyderabad Park achieved its highest revenue ever overall amounting to a total revenue of ₹177.47 crores.
by Damodharan N
Updated Jul 30, 2024
Table of Content
Wonderla Holidays reported a decrease in footfalls for the first quarter of FY25, ending June 30, 2024. The total footfalls for the period were 10.02 lakhs, down from 11.02 lakhs during the same period last year.
This decline was attributed to several factors including an unprecedented heatwave, water shortages, and disruptions from ongoing elections, particularly impacting key markets like Bangalore and Kochi.
Despite the drop in footfalls, the company achieved a gross revenue of ₹177.47 crores. The breakdown of footfalls for the different parks is as follows:
- Bangalore Park: 3.58 lakhs
- Kochi Park: 2.75 lakhs
- Hyderabad Park: 2.99 lakhs
- Bhubaneswar Park: 0.70 lakhs (since it began commercial operations on May 24, 2024)
Among the parks, Hyderabad Park achieved its highest-ever revenue since its inception, while Kochi Park recorded its second-highest revenue.
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Wonderla Q1 FY25 Results
Wonderla Holidays, India’s largest amusement park chain, has released its financial results for the first quarter ending June 30, 2024.
The company reported a gross revenue of ₹177.47 crore for the quarter, representing a 7% decline from ₹190.27 crore in the same period last year. EBITDA for the quarter was ₹95.96 crore, down by 25% from ₹122.50 crore in the previous year. Similarly, profit after tax (PAT) decreased by 25% to ₹63.24 crore, compared to ₹84.47 crore last year.
On a positive note, the Average Revenue Per User (ARPU) grew by 3% year-over-year to ₹1,680, and the Spend Per Head (SPH) increased by 15% year-over-year to ₹442.
The Board of Directors has also approved exploring fund-raising options, including equity, debt, or a combination of instruments, to support the company's expansion plans for the next seven to eight years.
Commenting on the performance during the quarter, Mr. Arun K Chittilappilly, Managing Director said “Our parks were already operating at capacity during Q1 FY 24, and our efforts focused on boosting non-ticket revenue and attracting a larger share of retail footfall.
Our primary focus was on cultivating higher-spending retail customers as opposed to groups. Footfalls were notably affected by an unprecedented heatwave, water shortages, and disruptions related to ongoing election activities, especially in key markets like Bangalore and Kochi, leading to a decline compared to the same period last year.
Additionally, there has been a sluggishness in discretionary spending following a surge in 'revenge tourism' post-COVID in FY 23/24. At the same time, we are pleased to report that our newest park in Bhubaneswar, launched on 24 May 2024, has exceeded expectations, receiving a great reception since its inception.”
Wonderla
Wonderla Holidays Limited operates three major amusement parks in India: Kochi, Bengaluru, and Hyderabad, along with a luxury resort in Bengaluru. The Kochi park, known for its eco-friendliness and safety certifications, features over 50 rides and has entertained over 1 crore visitors in 17 years.
Bengaluru park, located 28 km from the city, boasts 61 rides and added a resort in 2012, becoming the first amusement park in India to do so. Hyderabad park offers 43 rides, combining water and land-based attractions.
The Bengaluru resort, adjacent to the amusement park, provides luxury accommodations and various facilities, making it a unique holiday and business destination.
Wonderla Q1 FY25 Footfalls Drop to 10.02 Lakhs Due to Heatwave and Election Disruptions - FAQs
1. What was Wonderla's total revenue for Q1 FY25?
The total revenue reported by Wonderla Holidays Limited for the first quarter of FY25 was ₹177.47 crores.
2. How much did Wonderla's revenue decline in Q1 FY25 compared to the previous year?
Revenue for Q1 FY25 decreased by 7% from ₹190.27 crores in the same quarter of the previous financial year.
3. What was the EBITDA for Wonderla in Q1 FY25?
Wonderla's EBITDA for Q1 FY25 was ₹95.96 crores.
4. How much did EBITDA decrease from the previous year?
The EBITDA for the quarter declined by 25% compared to ₹122.50 crores in Q1 FY24.
5. What was the profit after tax (PAT) for Wonderla in Q1 FY25?
The profit after tax for Q1 FY25 was ₹63.24 crores.
6. How much did PAT decrease compared to Q1 FY24?
PAT decreased by 25% from ₹84.47 crores in the same quarter last year.
7. What was the Average Revenue Per User (ARPU) for Wonderla in Q1 FY25?
The Average Revenue Per User (ARPU) for Q1 FY25 was ₹1,680.
8. How did ARPU change compared to the previous year?
ARPU increased by 3% compared to the same quarter of the previous year.
9. What was the Spend Per Head (SPH) for Q1 FY25?
The Spend Per Head (SPH) for the first quarter of FY25 was ₹442.
10. How much did SPH grow compared to the same quarter last year?
SPH grew by 15% compared to the first quarter of the previous year.
11. What was the total footfall for Wonderla in Q1 FY25?
The total footfall recorded by Wonderla in Q1 FY25 was 10.02 lakhs.
12. How did footfalls in Q1 FY25 compare to the same period last year?
Footfalls decreased from 11.02 lakhs in Q1 FY24 to 10.02 lakhs in Q1 FY25.
13. Which Wonderla park had the highest footfalls in Q1 FY25?
Hyderabad Park had the highest footfalls with 2.99 lakhs in Q1 FY25.
14. Which park had the lowest footfalls in Q1 FY25?
Bhubaneswar Park had the lowest footfalls with 0.70 lakhs, as it started operations on May 24, 2024.
15. When did Bhubaneswar Park begin commercial operations?
Bhubaneswar Park began commercial operations on May 24, 2024.
16. How much revenue did Hyderabad Park generate in Q1 FY25?
Hyderabad Park achieved its highest-ever revenue since its inception during Q1 FY25.
17. How did Kochi Park perform in terms of revenue?
Kochi Park recorded its second-highest revenue since its inception in Q1 FY25.
18. What factors led to the decrease in footfalls in Q1 FY25?
The decline in footfalls was due to an unprecedented heatwave, water shortages, and disruptions from ongoing elections, particularly affecting key markets like Bangalore and Kochi.
19. What are the company's plans for expansion?
The company is exploring fund-raising options, including equity, debt, or a combination of instruments, to support expansion plans for the next seven to eight years.
20. Who is the Managing Director of Wonderla Holidays Limited?
The Managing Director of Wonderla Holidays Limited is Mr. Arun K Chittilappilly.
21. What strategic focus did Wonderla have in Q1 FY25?
The company focused on boosting non-ticket revenue and attracting higher-spending retail customers instead of large group bookings.
22. What impact did 'revenge tourism' have on Wonderla's financials?
"Revenge tourism' led to a surge in discretionary spending post-COVID in FY 23/24, but this was followed by a period of sluggish spending in FY25.
23. What was the percentage growth in ARPU for Q1 FY25?
The Average Revenue Per User (ARPU) grew by 3% year-over-year.
24. What was the percentage increase in SPH for Q1 FY25?
The Spend Per Head (SPH) increased by 15% compared to the same period last year.
25. How did the new park in Bhubaneswar perform?
The Bhubaneswar Park exceeded expectations with a positive reception since its launch on May 24, 2024.
26. What was the total footfall at Bangalore Park for Q1 FY25?
Bangalore Park recorded 3.58 lakhs footfalls in Q1 FY25.
27. What was the total footfall at Kochi Park for Q1 FY25?
Kochi Park had 2.75 lakhs footfalls during Q1 FY25.
28. What was the total footfall at Hyderabad Park for Q1 FY25?
Hyderabad Park recorded 2.99 lakhs footfalls in Q1 FY25.
29. How did Wonderla's financial results compare to Q1 FY24?
Compared to Q1 FY24, Wonderla's revenue, EBITDA, and PAT all showed a decline in Q1 FY25.
30. What are the planned initiatives for addressing the financial decline?
The company plans to raise funds for expansion and improve revenue and operations through strategic initiatives and operational efficiencies.