Brands
Theme park twists as Imagicaa rides back to profit in Q3
MUMBAI: The rollercoaster finally slowed and steadied. Imagicaaworld Entertainment Limited swung back into the black in the December quarter, delivering a modest profit after a bruising September, even as higher costs and softer nine-month numbers kept the ride far from smooth.
For the quarter ended December 31, 2025, the company reported revenue from operations of Rs 91.25 crore, more than doubling sequentially from Rs 41.06 crore in Q2, and broadly flat compared with Rs 91.86 crore in the year-ago quarter. Including other income of Rs 4.56 crore, total income stood at Rs 95.80 crore.
The sharper top-line recovery translated into a profit after tax of Rs 1.54 crore, reversing a loss of Rs 30.24 crore in the preceding quarter and improving on the Rs 3.22 crore profit reported a year earlier. The turnaround was driven largely by stronger park operations and improved cost absorption during the festive-heavy quarter.
That said, expenses continued to loom large. Total costs for the quarter climbed to Rs 93.80 crore, led by other expenses of Rs 32.58 crore, depreciation and amortisation of Rs 20.50 crore, and finance costs of Rs 5.40 crore, underscoring the capital-intensive nature of the theme park business.
On a nine-month basis, the picture remained more restrained. Revenue from operations fell to Rs 269.60 crore, compared with Rs 315.82 crore in the corresponding period last year. Net profit for the nine months stood at Rs 14.52 crore, sharply lower than Rs 62.75 crore a year earlier, reflecting uneven footfalls, elevated fixed costs and the drag from financing and depreciation.
Exceptional items during the quarter were marginal, with a net gain of Rs 0.40 crore, largely linked to fair-value adjustments, offering limited relief to the bottom line.
For the full year ended March 2025, Imagicaa had reported revenue of Rs 410.00 crore and a profit of Rs 77.79 crore, setting a high base that the current year has struggled to match.
As the company heads into the final quarter, the message is clear: the crowds are returning, but the margins are still queuing. The December rebound offers breathing space, yet sustained profitability will depend on keeping costs in check while ensuring the turnstiles keep spinning.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
