Wonderla Holidays puts emphasis on retail footfalls, expanding non-ticket revenues
Arun K Chittilappilly, the Managing Director of Wonderla Holidays, highlighted the company's concentration on increasing retail foot traffic and enhancing non-ticket earnings.
Wonderla Holidays prioritised enhancing retail footfalls, targeting those customers who tend to spend the most. Additionally, the company is focused on enhancing non-ticket spending by introducing events and diversifying food and beverage (F&B) offerings.
Speaking with CNBC-TV18, Arun K Chittilappilly, the Managing Director of Wonderla Holidays, highlighted the company's concentration on increasing retail foot traffic and enhancing non-ticket earnings.
He said, “Our average revenue per user (ARPU) and total spending in the parks have gone up significantly this year. It’s a step that we have taken consciously because we felt that Q1 (FY24) is a strong quarter for us and consequently our parks have been always running full. So, this year we decided to focus more on retail footfalls, which are the highest spending customers and also improve our non-ticket spending through events and other F&B offerings.”
The company also reported favourable outcomes for the first quarter, as evidenced by its financial figures. In June 2023, the company's net sales reached Rs 184.64 crore, marking a significant 23.57 percent increase compared to the Rs 149.42 crore achieved in June 2022.
Furthermore, the quarterly net profit for June 2023 amounted to Rs 84.47 crore, reflecting a notable growth of 31.21 percent from the Rs 64.38 crore recorded in June 2022. Additionally, the company's EBITDA for June 2023 stood at Rs 122.50 crore, showcasing a substantial rise of 30.06 percent compared to the Rs 94.19 crore achieved in June 2022. The Wonderla EPS has also witnessed an upswing, reaching Rs 14.93 in June 2023, a rise from Rs 11.38 observed in June 2022.
Chittilappilly also shared exciting news about expansion plans. The much-anticipated Odisha Park is on track to become operational within the next 18 months. With a projected capital expenditure of Rs 150 crore, this venture signifies the company's commitment to exploring new markets and offering thrill-seekers unique experiences.
Wonderla is the largest chain of amusement parks in India. It is owned and operated by Wonderla Holidays Limited which is headquartered near Bengaluru in Karnataka. It operates three amusement parks in Kochi, Bengaluru, and Hyderabad.
Meanwhile, enthusiasts in Chennai can eagerly anticipate the construction of the new Wonderla Park, which is set to commence in the coming month.
For more details, watch the accompanying video.
(Edited by : Sangam Singh)
First Published: Aug 14, 2023 3:52 PM IST
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