[ad_1]
Shares of Wonderla Holidays were locked in 20 per cent upper circuit at Rs 336.05 after it hit 52-week high on the BSE in Thursday’s trade. The surge comes after the company reported robust earnings as profit after tax (PAT) grew to Rs 64.38 crore for the quarter ended June 2022 (Q1FY23) as against Rs 8.51 crore in the corresponding quarter of previous fiscal (Q4FY22).
Sequentially, the company’s total revenue from operationsmore-than-doubled to Rs 149.42 crore from Rs 57.69 crore, whereas it posted operational revenue of Rs 4.35 crore in Q1FY22.
The stock surpassed its previous high of Rs 289.50 that it had touched on August 8, 2022. In the past one month, it zoomed 50 per cent, as against 9 per cent rise in the S&P BSE Sensex. On Thursday, August 11, the counter saw huge trading volumes as 2.59 million equity shares representing 4.6 per cent of total equity changed hands on the NSE and BSE.
Since the pandemic started in early 2020, the resulting collapse of travel demand due to border closures severely disrupted travel and tourism worldwide. The whole tourism industry stopped abruptly due to the pandemic’s disruption and suffered a substantial financial loss. From FY2021 to early part of FY2022, tourism, travel, and hospitality continued to be the hardest hit sectors with highly anaemic performance numbers.
Wonderla is one of the most famous amusement park chains in India and operates three amusement parks in Bangalore, Kochi, and Hyderabad. The company is also operating high quality leisure resort attached to the amusement park.
The management said that the company is taking several short-term and long-term strategic initiatives to accommodate the changing trends and patterns in order to utilise available market opportunity.
“In the coming years, our focus will be on leveraging digital marketing, scaling content, consistent park activities, innovative rides, well-managed parks, and seamless experience for the customers. All these efforts in totality are expected to attract more footfalls and hence contribute to the company’s profitability,” the management said in their FY22 annual report.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
[ad_2]
Source link
