This amusement park operator, Wonderla Holidays, did not have an enthusing Q2 performance. Since Q1 is the strongest quarter due to holiday season, a sequential comparison is meaningless. On a year-on-year (yoy) basis, revenue during the September quarter rose 26% to Rs. 34 crore, thanks to higher service and product sales. Net profit, which stood at Rs. 4.41 crore in Q2FY14 jumped to Rs. 6.44 crore, thanks to other income jumping from Rs. 59 lakh in the corresponding quarter last year to Rs. 2.82 crore now, as interest was earned on IPO proceeds of Rs. 180 crore raised in April this year. Thus, despite rise in revenues, due to cost pressures, the net margins actually contracted, which is not taken well by the market. Also, not a single penny raised in the IPO is utilized for the objects of issue, parking all the funds in mutual funds and bank deposits.

Q3 is seasonally a stronger quarter due to festive season. Hence, that should help improve full year performance for FY15. H1FY15 EPS stands at Rs. 5.82, on expanded equity of Rs. 56.5 crore versus Rs. 9.50 EPS for FY14.