Wonderla Holidays is buzzing, opening almost 2% higher at Rs.230.90 and rising to an intraday high at Rs.242, up over 6.5%. This is on the back of 2.3x surge in volumes. Its 52-week high is at Rs.269.90.
The market is reacting to the news it announced yesterday evening – it has signed an agreement with the Government of Odisha for leasing land about 50 acres.
This is for development of an amusement park project in Bhubaneswar, Odisha.
The company currently operates three Wonderla brand amusement parks in South India. The company opened its first park in Kochi in 2000 second one in 2005 at Bangalore and the third one in Hyderabad in April 2016.
After the tough times in Covid when business was badly impacted, the company, for Q4FY22 posted a turnaround with a net profit of Rs.8.51 crore v/s loss of Rs.5 crore (YoY) and this was on a good 73% jump in revenue from operations at Rs.58 crore.