Wonderla Holidays in talks with MP Govt for setting up an amusement park

Image
Capital Market
Last Updated : Jan 13 2023 | 3:16 PM IST

The amusement park operator said that the management of Wonderla Holidays is in discussions with the officials of Government of Madhya Pradesh exploring the possibilities for setting up an amusement park in the state.

The announcement was made during market hours today.

The company presenttly has amusement parks in three cities viz., Kochi, Bengaluru, and Hyderabad. In its Q2 FY23 investor presentation, the company had informed about the agreement with the Odisha government for the development of an amusement park project in Bhubaneshwar.

Being built on an asset light model, the company has leased 50.6 acres land for 90 years in the Khorda district in Bhubaneshwar, Odisha. Major saving on capex which is usually incurred on land acquisition, the company said.

Wonderla Holidays operates three amusement parks in Kochi (Kerala), Bangalore (Karnataka) and Hyderabad (Telangana) under the brand name Wonderla.

The company had reported a consolidated net profit of Rs 10.53 crore in Q2 FY23 as against a loss of Rs 9.28 crore recorded in Q2 FY22. Revenue from operations during the period under review surged to Rs 66.04 crore from Rs 17.21 crore recorded in the same period last year.

The scrip rose 0.34% to currently trade at Rs 352.65 on the BSE.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jan 13 2023 | 3:02 PM IST

Next Story