Wonderla FY20 net profit up 17%

The profit for the fourth quarter ended March 31, 2020 stood at Rs 1.56 crore as against Rs 6.99 crore during the corresponding period of last financial year

Hyderabad: Amusement park operator Wonderla Holidays reported a net profit of Rs 64.78 crore for the financial year ended March 31, 2020, registering an increase of 17 per cent over Rs 55.41 crore reported during the corresponding period last financial year.

The profit for the fourth quarter ended March 31, 2020 stood at Rs 1.56 crore as against Rs 6.99 crore during the corresponding period of last financial year.

The company’s gross revenue for the fourth quarter stood at Rs 44.91 crore against Rs 63.55 crore in the corresponding period last financial year, while the gross revenue for the financial year stood at Rs 282.88 crore, against Rs 291.66 crore in the previous financial year.

The company said, during the fourth quarter, footfall declined by 38 per cent in Bengaluru Park, 31 per cent in Kochi Park and 22 per cent in Hyderabad Park, resulting in an overall decline of 31 per cent during the quarter.

Commenting on the performance during the quarter, joint managing director, George Joseph, said, “Due to pandemic outbreak, we had to close down the entire operations of the company during March 2020. We lost approximately 1.20 lakh footfalls due to the closure. This has negatively impacted the performance for Q4.”

He added, “With the gradual opening up of the different segments of the economy, we expect that the authorities will soon permit reopening of parks with strict health, safety and preventive protocol.”

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