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Shares of Wonderla Holidays, an amusement park company, experienced a notable increase in its share price, initially rising over 1.5 percent during afternoon trading. However, it later saw a slight reduction in gains, stabilizing at 0.71 percent increase to reach Rs 633.40 around 2:30 pm. This price movement coincided with a surge in trade volumes, with 3 lakh shares being exchanged, significantly surpassing the weekly trading average of 85K shares and the monthly average of 1 lakh shares.
In the June quarter, the company registered its highest-ever quarterly revenue, EBITDA and net profit since its inception. Its quarterly revenue increased by 24 percent year on year to Rs 184.6 crore while EBITDA went up by 30 percent to Rs 122.5 crore with EBITDA margin going up to 64 percent and net profit increased by 31 percent to Rs 84.47 crore. Similarly, ARPU (Average Revenue per User) went up by 25 percent to Rs 1626.
The company told CNBCTV18 in August that it is focusing on increasing retail footfalls and non-ticketing revenues. Wonderla also forecasted a seasonal drop in ARPU during the next 2 quarters.
Share Khan had maintained its ‘buy’ rating for the stock in August and increased the target price to Rs 750. The broker raised its earnings estimate for FY2024 and 25 by 5-6 percent due to higher-than-expected ARPUs and EBITDA margins.
The company’s new park in Odisha has started construction and is expected to be operational in 18 months. The construction of Chennai Park is expected to get underway soon.
Wonderla holidays’ shares have given a return of 49.79 percent in the last 6 months and 80.30 percent year-to-date.
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