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Results
17-May-24
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Analysis
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Wonderla Holidays
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Lower operating profit
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Standalone
net sales (including other operating income) of Wonderla Holidays has increased
1.11% to Rs 99.69 crore. Sales of Others
segment rose 4.04% to Rs 23.83 crore (accounting for 23.91% of total sales). Sales of Amusement Park and Resort segment has
gone up 0.22% to Rs 75.85 crore (accounting for 76.09% of total sales).
Profit
before interest, tax and other unallocable items (PBIT) has slumped 28.59% to
Rs 35.11 crore. PBIT of Others segment
rose 629.88% to Rs 9.76 crore (accounting for 27.81% of total PBIT). PBIT of Amusement Park and Resort segment
fell 47.01% to Rs 25.34 crore (accounting for 72.19% of total PBIT).
PBIT
margin of Others segment rose from 5.84% to 40.97%. PBIT margin of Amusement Park and Resort
segment fell from 63.19% to 33.41%.
Overall PBIT margin fell from 49.87% to 35.22%.
Operating
profit margin has declined from 42.92% to 35.53%, leading to 16.30% decline in
operating profit to Rs 35.42 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
5.80% to 6.61%. Purchase of finished goods
cost fell from 4.96% to 4.74%. Employee
cost increased from 12.93% to 17.05%.
Other expenses rose from 33.33% to 36.10%.
Other
income fell 63.32% to Rs 5.15 crore.
PBIDT fell 28.02% to Rs 40.57 crore.
Provision for interest up 6.25% to Rs 0.17 crore. Loan funds declined from Rs 6.94 crore as of
31 March 2023 to Rs 5.57 crore as of 31 March 2024. Inventories rose to Rs 13.48 crore as of 31
March 2024 from Rs 9.44 crore as of 31 March 2023. Sundry debtors were higher at Rs 2.87 crore
as of 31 March 2024 compared to Rs 1.39 crore as of 31 March 2023. Cash and bank balance declined from Rs 135.72
crore as of 31 March 2023 to Rs 123.87 crore as of 31 March 2024. Investments declined from Rs 120.27 crore as
of 31 March 2023 to Rs 90.14 crore as of 31 March 2024.
PBDT
fell 28.11% to Rs 40.4 crore. Provision
for depreciation rose 12.58% to Rs 10.11 crore.
Fixed assets increased to Rs 928.96 crore as of 31 March 2024 from Rs
767.58 crore as of 31 March 2023.
Intangible assets increased from Rs 0.73 crore to Rs 0.91 crore.
Profit
before tax down 35.85% to Rs 30.29 crore.
Provision for tax was expense of Rs 7.68 crore, compared to Rs 12.17
crore. Effective tax rate was 25.35%
compared to 25.77%.
Profit
after tax fell 35.49% to Rs 22.61 crore.
Equity
capital increased from Rs 56.56 crore as of 31 March 2023 to Rs 56.57 crore as
of 31 March 2024. Per share face Value
remained same at Rs 10.00.
Promoters’
stake was 69.74% as of 31 March 2024 ,compared to 69.74% as of 31 March
2023.
Commenting on the
performance during the quarter, Mr. Arun K Chittilappilly, Managing Director
said “We are proud to
share that Wonderla Holidays Limited has delivered outstanding results for the
financial year ending 31 March 2024, achieving a record revenue of Rs.506
crores and the highest Earnings Per Share in our history at Rs.27.93. Despite a
challenging fourth quarter, our annual footfalls of 32.52 lakhs reflect our
unwavering commitment to delivering unparalleled amusement experiences. We are
on track to soft launch our amusement park in Bhubaneswar on 24 May 2024, we
are confident that this new addition will further enhance our growth and
appeal. Our strong performance is a testament to the hard work and dedication
of our team. We look forward to continuing our growth trajectory and enhancing
value for our shareholders and guests.”
Full year results
analysis
Net
sales (including other operating income) of Wonderla Holidays has increased
12.54% to Rs 483.04 crore. Sales of
Others segment rose 15.15% to Rs 107.72 crore (accounting for 22.30% of total
sales). Sales of Amusement Park and
Resort segment has gone up 11.81% to Rs 375.32 crore (accounting for 77.70% of
total sales).
Profit
before interest, tax and other unallocable items (PBIT) has jumped 7.50% to Rs
225.31 crore. PBIT of Others segment
rose 19.45% to Rs 48.02 crore (accounting for 21.31% of total PBIT). PBIT of Amusement Park and Resort segment
rose 4.67% to Rs 177.29 crore (accounting for 78.69% of total PBIT).
PBIT
margin of Others segment rose from 42.97% to 44.58%. PBIT margin of Amusement Park and Resort
segment fell from 50.46% to 47.24%.
Overall PBIT margin fell from 48.83% to 46.64%.
Operating
profit margin has declined from 49.27% to 47.03%, leading to 7.42% rise in
operating profit to Rs 227.18 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
5.33% to 5.71%. Purchase of finished
goods cost fell from 5.08% to 4.34%.
Employee cost increased from 11.90% to 12.95%. Other expenses rose from 28.48% to
30.01%.
Other
income fell 0.95% to Rs 22.98 crore. PBIDT
rose 6.60% to Rs 250.16 crore. Provision
for interest up 88.24% to Rs 0.64 crore.
Loan funds declined from Rs 6.94 crore as of 31 March 2023 to Rs 5.57
crore as of 31 March 2024. Inventories
rose to Rs 13.48 crore as of 31 March 2024 from Rs 9.44 crore as of 31 March
2023. Sundry debtors were higher at Rs
2.87 crore as of 31 March 2024 compared to Rs 1.39 crore as of 31 March
2023. Cash and bank balance declined
from Rs 135.72 crore as of 31 March 2023 to Rs 123.87 crore as of 31 March
2024. Investments declined from Rs
120.27 crore as of 31 March 2023 to Rs 90.14 crore as of 31 March 2024.
PBDT
rose 6.48% to Rs 249.52 crore. Provision
for depreciation rose 8.43% to Rs 38.2 crore.
Fixed assets increased to Rs 928.96 crore as of 31 March 2024 from Rs
767.58 crore as of 31 March 2023.
Intangible assets increased from Rs 0.73 crore to Rs 0.91 crore.
Profit
before tax grew 6.13% to Rs 211.32 crore.
Provision for tax was expense of Rs 53.36 crore, compared to Rs 50.21
crore. Effective tax rate was 25.25%
compared to 25.22%.
Profit
after tax rose 6.08% to Rs 157.96 crore.
Equity
capital increased from Rs 56.56 crore as of 31 March 2023 to Rs 56.57 crore as
of 31 March 2024. Per share face Value
remained same at Rs 10.00.
Promoters’
stake was 69.74% as of 31 March 2024 ,compared to 69.74% as of 31 March 2023
.
The
scrip trades at Rs 9123.
Wonderla Holidays : Standalone
Results
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Particulars
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2403 (03)
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2303 (03)
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Var.(%)
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2403 (12)
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2303 (12)
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Var.(%)
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Net Sales
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99.69
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98.6
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1
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483.04
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429.22
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13
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OPM (%)
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35.5
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42.9
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47.0
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49.3
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OP
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35.42
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42.32
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-16
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227.18
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211.48
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7
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Other Inc.
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5.15
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14.04
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-63
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22.98
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23.2
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-1
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PBIDT
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40.57
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56.36
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-28
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250.16
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234.68
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7
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Interest
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0.17
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0.16
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6
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0.64
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0.34
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88
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PBDT
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40.4
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56.2
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-28
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249.52
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234.34
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6
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Depreciation
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10.11
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8.98
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13
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38.2
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35.23
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8
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PBT
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30.29
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47.22
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-36
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211.32
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199.11
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6
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PBT before EO
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30.29
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47.22
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-36
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211.32
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199.11
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6
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EO Income
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0
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0
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0
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0
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PBT after EO
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30.29
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47.22
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-36
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211.32
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199.11
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6
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Taxation
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7.68
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12.17
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-37
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53.36
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50.21
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6
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PAT
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22.61
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35.05
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-35
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157.96
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148.9
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6
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EPS (Rs)*
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#
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#
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27.9
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26.3
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Notes
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* EPS is on current equity of Rs 56.57 crore, Face value of Rs
10, Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate Database
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Wonderla Holidays : Standalone
Segment Results
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% of (Total)
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2403 (03)
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2303 (03)
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Var.(%)
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% of (Total)
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2403 (12)
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2303 (12)
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Var.(%)
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Sales
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Others
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24
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23.83
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22.91
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4
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22
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107.72
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93.55
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15
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Amusement Park and Resort
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76
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75.85
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75.69
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0
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78
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375.32
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335.68
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12
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Total Reported Sales
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100
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99.69
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98.6
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1
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100
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483.04
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429.22
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13
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PBIT
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Others
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28
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9.76
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1.34
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630
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21
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48.02
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40.2
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19
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Amusement Park and Resort
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72
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25.34
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47.83
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-47
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79
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177.29
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169.38
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5
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Total PBIT
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100
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35.11
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49.17
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-29
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100
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225.31
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209.58
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8
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Less : Interest
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-4.97
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-4.28
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-16
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-20.94
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-12.01
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-74
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Add: Other un-allcoable
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-9.79
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-6.22
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-57
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-34.93
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-22.48
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-55
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PBT
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100
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30.29
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47.23
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-36
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100
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211.32
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199.11
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6
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Previous News |
Board of Wonderla Holidays approves equity issuance of Rs 800 cr
(
Corporate News
-
04-Oct-24
12:57
)
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Wonderla Holidays to hold board meeting
(
Corporate News
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01-Oct-24
10:01
)
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Wonderla Holidays opens its latest amusement park in Bhubaneswar
(
Corporate News
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20-Sep-24
18:24
)
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Wonderla Holidays
(
Analyst Meet / AGM
-
Conference Call
31-Jul-24
08:39
)
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Wonderla Holidays
(
Results
-
Analysis
30-Jul-24
09:55
)
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Wonderla Holidays standalone net profit declines 25.13% in the June 2024 quarter
(
Results
-
Announcements
29-Jul-24
16:23
)
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Board of Wonderla Holidays approves exploration of fund raising options
(
Corporate News
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29-Jul-24
15:50
)
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Wonderla Holidays AGM scheduled
(
Corporate News
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20-Jul-24
12:06
)
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Wonderla Holidays to table results
(
Corporate News
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11-Jul-24
16:27
)
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Wonderla Holidays
(
Analyst Meet / AGM
-
Conference Call
18-May-24
07:54
)
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Wonderla Holidays
(
Results
-
Analysis
17-May-24
07:06
)
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