Wonderla Holidays posted its Q4FY21 earnings, on the back of the COVID-led restrictions imposed across the country. Arun K Chittilappilly, MD, Wonderla Holiday, discussed the results and the outlook.

“We are hoping that the rebound from the second wave will be faster,” he said in an interview with CNBC-TV18.

“Even though the second wave of COVID-19 was unexpected, we have already undertaken a lot of cost saving measures and we have been able to bring down our fixed cost by almost 30-40 percent,” he added. “That helped us to reduce our losses for the year. We are hoping that there won’t be a third, fourth or fifth wave and we will be out of the pandemic soon,” he shared.

He believes that the company is sufficiently capitalised to be able to survive this pandemic. “Our results are pretty good; we are sufficiently capitalised to be able to survive this pandemic and we don’t have to take loans or anything as of now. The periods of no revenues were very challenging, but we were able to survive the first wave, and the second wave should be fine too,” he further mentioned.

In terms of Chennai Park construction, he said, “We have a new project, which is our Chennai Amusement Park project. We had already purchased the land for this project, and we were supposed to start construction before the pandemic hit. That has been put on hold for now, until maybe the end of this financial year, because we are not able to mobilise the resources to start the construction at this point.”

For the full interview, watch the accompanying video.

(Edited by : Dipika)

First Published:Jun 9, 2021 10:07 AM IST