Wonderla Holidays jumps 4% on TN local body tax waiver

Shares of Wonderla Holidays Ltd jumped 4 percent in early trade on June 5, on the news of the Tamil Nadu government waiving off the Local Body Tax (LBT) for the company.

In a filing to the exchanges, the company said the waiver of the 10 percent LBT is for 10 years from the commencement of commercial operations.

This is subject to the condition that commercial operation shall be commenced within two years from June 2, 2023. With this, the company expects to start operations at the Chennai project at the earliest, as per the filing.

Wonderla Holidays released its Q4 results recently. On a standalone quarterly basis, the company reported net sales at Rs 98.60 crore in March 2023, up 70.92 percent from Rs. 57.69 crore a year ago. Quarterly net profit was reported at Rs 35.05 crore in March 2023, up 311.97 percent from Rs 8.51 crore in March 2022. EBITDA stands at Rs 56.37 crore in March 2023 up 164.15 percent from Rs 21.34 crore in March 2022. Wonderla EPS has increased to Rs 6.20 in March 2023 from Rs 1.50 in March 2022.

Stock Performance

The Wonderla Holidays Ltd stock has given a return of 62.15 percent over the last five years. Thus underperforming the Nifty50 benchmark index which has given a return of 73.87 percent over the same duration.

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