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Q3-2016: Weather affects Wonderla footfalls, but revenue rises
BENGALURU: South Indian amusement park and resorts player Wonderla Holidays Limited (Wonderla) reported 11.7 per cent lower footfalls in the quarter ended 31 December, 2015 (Q3-2016, current quarter) because of the bad weather across Southern India that had also caused floods and destruction in Chennai. The company reported 5.66 lakh footfalls in the current quarter as compared to 6.41 lakh footfalls in Q3-2015. Despite this setback, the company has posted 6.5 per cent year on year (YoY) growth in total income from operations (TIO) for the current quarter at Rs 50.43 crore as compared to Rs 47.36 crore and a 16.7 per cent quarter and quarter (QoQ) growth as compared to Rs 43.23 crore. Amongst Wonderla’s peers are Adlabs, Ramoji Film City and Essel World
Note: 100,00,000 = 100 lakh = 10 million = 1 crore
Increase in revenue can be attributed to the higher average ticket and non-ticket revenues per visitor, says the company. Net average ticket revenue per customer in Q3-2016 increased 19 per cent to Rs 686.90 as compared to Rs 579.50 in Q3-2015. Average non-ticket revenue per customer increased 33 per cent to Rs 230.40 from Rs 173.70 in Q3-2015.
Company speak
“We are generally satisfied with the performance during the third quarter of the ongoing financial year. We have recorded growth in revenue in spite of a 11.7 per cent decline in the footfalls at the parks during the quarter, mainly due to unfavourable weather conditions during November. We are seeing a rebound in footfalls, and are optimistic about growth in footfall in the coming quarters for both existing amusement parks. We are also eagerly waiting to launch our brand new amusement park in Hyderabad to public within a couple of months,” said Wonderla managing director Arun K Chittilappilly.
Revenue streams
The company has three amusement parks in Bengaluru, Kochi and Hyderabad and a resort in Bengaluru. A large part of its revenues come from its Bengaluru operations.
It reports two revenue streams – from sales of services and from sales of products.
Revenue from sales of services in Q3-2016 increased 3.4 per cent YoY to Rs 42.64 crore (84.6 per cent of TIO) from Rs 41.24 crore (87.1 per cent of TIO) in Q3-2015 and increased 15.3 per cent QoQ from Rs 36.98 crore (85.5 per cent of TIO).
Revenue from sales of products increased 27.3 per cent YoY to Rs 7.79 crore (15.4 per cent of TIO) from Rs 6.12 crore (12.9 per cent of TIO) and increased 24.6 per cent QoQ as compared to Rs 6.35 crore (14.5 per cent of TIO)
Let us look at the other numbers reported by Wonderla
Wonderla Profit after Tax (PAT) in Q3-2016 declined four per cent YoY to Rs 12.26 crore (24.3 per cent margin) as compared to Rs 12.77 crore (27 per cent margin), but was 2.6 per cent higher QoQ as compared to Rs 11.95 crore (27.6 per cent margin) in the immediate trailing quarter.
EBIDTA in the current quarter declined 12.9 per cent YoY to Rs 18.21 crore (36.1 per cent margin) as compared to Rs 20.89 crore (44.1 per cent margin), but increased 23.8 per cent QoQ from Rs 14.71 crore (34 per cent margin) in Q2-2016.
Total Expense in Q3-2016 increased 14.9 per cent YoY to Rs 35.04 crore (69.5 per cent of TIO) from Rs 30.51 crore (64.4 per cent of TIO) and increased eight per cent QoQ as compared to Rs 32.45 crore (75.1 per cent of TIO).
Employee Benefit Expense in Q3-2016 increased 25.7 per cent to Rs 8.15 crore (16.2 per cent of TIO) as compared to Rs 6.49 crore (13.7 per cent of TIO) in Q3-2015 and increased 7.7 per cent as compared to Rs 7.57 crore (17.5 per cent of TIO) in Q2-2016.
The company spent 7.1 per cent less YoY towards marketing and advertising expenses in the current quarter at Rs 5.32 crore (10.6 per cent of TIO) as compared to Rs 5.73 crore (12.1 per cent of TIO), but spent 51.9 per cent more than the Rs 3.51 crore (8.1 per cent of TIO) in Q2-2016.
Brands
FSS names Anand Krishnamurthi head of global digital delivery
Tech veteran to drive AI-first, cloud-led transformation in payments globally
CHENNAI: Financial Software and Systems (FSS), an AI-first payment infrastructure company, has appointed Anand Krishnamurthi as head of global digital delivery.
In his new role, Anand Krishnamurthi will lead FSS’s global digital delivery capabilities, focusing on AI-first and cloud-led transformation while ensuring predictable, high-quality outcomes for customers worldwide. He will be based in Chennai and report to V. Balasubramanian, CEO of FSS.
Bringing 28 years of experience in technology and digital transformation across banking, capital markets, financial services, and insurance, Anand has held senior leadership positions at Cognizant and NuSummit. He is recognised for scaling multi-geography delivery teams, leading mission-critical platforms, and embedding AI-driven automation in complex, regulated environments.
“What drew me to FSS is its deep payments expertise, strong product DNA, and the scale at which its platforms power real-world financial ecosystems,” said Anand Krishnamurthi. “I aim to strengthen delivery predictability, execution rigor, and engineering quality, building empowered teams that deliver measurable customer outcomes. FSS has a unique opportunity to create real-time, AI-infused payments infrastructure that is resilient, secure, and globally scalable.”
V. Balasubramanian added, “Anand’s track record in leading multi-geography delivery programs and AI-first operating models makes him the ideal leader for FSS as we accelerate our AI-driven digital payments business. His leadership will help us raise the bar for outcomes globally.”
This appointment is part of FSS’s broader push to build an AI-powered, cloud-native delivery organisation capable of meeting the evolving needs of banks, fintechs, and financial institutions worldwide.
