Imagicaaworld Entertainment Ltd announces Q3FY23 results

Imagicaaworld Entertainment Limited, which operates Imagicaa - Theme Park, Water Park, Snow Park and a family hotel Novotel Imagicaa Khopoli, announced its unaudited Financial Results for the Quarter ending 31st December 2022.

The business continues to show an excellent rebound after two years of adverse COVID-19 impact as well as overall improvement in the health of operations.

Performance highlights for the Quarter ended Dec 31st, 2022 (Q3 FY23 vis-a-vis Q3 FY20):

- Strong footfall growth vs pre-covid levels - 4.2 lakh vs 3.25 lakh in Q3 FY20 (TP+WP)

- Strong growth of 37% in operational revenues to Rs 75.1 Cr

- Total ARPU grew by 14% to Rs. 1,484 versus Rs. 1,301 in Q3 FY20

- Q3 quarter 200%+ EBITDA growth at Rs 32.4 Crs with margin at 43%

- Park Revenue grew by 44.0% to Rs 63.1 crs vs 43.0 in Q3 FY20. Footfall (TP+WP) grew by 29% to 1.7 lakhs vs 1.33 lakhs in Q3 FY20.

- With strong cost control measures, the company has managed to reduce the total expense by 4% from Rs. 44.7 Crs in Q3 FY20 to Rs. 42.7 Crs in Q3 FY23.

- Due to the strong business performance and prudent cost control measures, the company is reporting its best ever Q3 quarterly EBITDA of Rs 32.4 Crs vs Rs. 10.2 Crs in Q3 FY20 and EBITDA margin of 43.2%, 2460 bps higher than Q3 FY20.

- The company has first time reported positive PBT of 7.05 crs in a Q3

Dhimant Bakshi, CEO, Imagicaaworld Entertainment Ltd., "We are glad to announce a strong performance in Q3 FY23 across all operational parameters in addition to reporting PBT positive. We have had an exceptional guest feedback with high volumes across the regular park days as well as events such as New Year's Eve Bash that enhances the delight quotient for all our guests. We are also excited to inform approval of our Board of Directors for inorganic acquisition of an operating Water Park in the state of Gujarat, heralding our first moves towards geographical expansion which would enable higher operating leverage and exploitation of our brand as well as operating expertise."

Shares of Imagicaaworld Entertainment Limited was last trading in BSE at Rs. 35.85 as compared to the previous close of Rs. 36.20. The total number of shares traded during the day was 169786 in over 2234 trades.

The stock hit an intraday high of Rs. 37.45 and intraday low of 35.50. The net turnover during the day was Rs. 6202136.00.

Source : Equity Bulls

Keywords

ImagicaaworldEntertainment INE172N01012 Q3FY23 9MFY23 ResultUpdate