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Adlabs Entertainment reports FY19 Results

Posted On: 2019-05-16 18:20:48

Adlabs Entertainment Limited, which operates Imagica - Theme Park, Water Park, Snow Park and a family hotel Novotel Imagica Khopoli, announced its unaudited Financial Results for the Year ending 31st March 2019.

Performance highlights for the Year ended March 31st, 2019 (FY19 Vis-a-Vis FY18):

- ARPU improved by 3% from Rs. 1,422 in FY18 to Rs. 1,463 in FY19

- Hotel Revenue increased to Rs. 38.74 Cr in FY19 from Rs. 35.02 Cr in FY18 resulting in 10.6% growth

Commenting on the results, Dhimant Bakshi, Jt. CEO, Adlabs Entertainment Limited said: We are glad to inform you that -, the Company has reported a growth of 3% in ARPU for FY19. The Total ARPU increased to Rs. 1,463 in FY19 from Rs. 1,422 in FY18. Total Revenue increased by 1.7% to Rs. 240.38 Cr in FY19 from Rs. 236.29 Cr in FY18. The overall footfall in FY19 declined by 5.1%, mainly due to a protracted winter impacting the footfall in the Water Park.

Our Hotel 'Novotel Imagica' reported a better performance in FY19, as the hotel - is fully operational with 287 rooms since this year. Revenue from the Hotel business jumped by 10.6% YoY to Rs. 38.74 Cr in FY19. During the year, the Hotel recorded occupancy of 48.2% with 37,962 rooms sold. This was due to the higher room inventory available from September 2018. Overall ARR (incl. F&B) was ~Rs. 10,205/-.

FY19 EBITDA declined by 24.5% to Rs 47.30 Cr in FY19 from Rs 62.67 Cr in FY18, mainly due to increase in provisions, sales commissions, repairs & maintenance, and legal expenses.

Shares of Adlabs Entertainment Ltd was last trading in BSE at Rs.7.94 as compared to the previous close of Rs. 8.14. The total number of shares traded during the day was 8823 in over 46 trades.

The stock hit an intraday high of Rs. 8.17 and intraday low of 7.67. The net turnover during the day was Rs. 69404.

Source: Equity Bulls

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