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.
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