Waterways Leisure Tourism delivered robust financial results for the June quarter, with revenue rising 23.4% quarter-on-quarter to ₹190 crore from ₹154 crore in the previous quarter. According to CFO Nishikant Upadhyay in an exclusive interaction with Zee Business, EBITDA increased 20.8% to ₹45 crore from ₹37.25 crore, while net profit surged 26.4% to around ₹22.7 crore from ₹18 crore. The company's improved performance was driven by enhanced load factors and strategic pricing initiatives.
The company's load factor increased significantly from 83% in March quarter to 105% in June quarter, according to Upadhyay. Cruise operators can report load factors above 100% as cabins can accommodate more than two passengers. Waterways Leisure Tourism currently operates the MV Empress with around 800 rooms, featuring three-and four-bed cabins that allow higher passenger capacity than standard room-based accommodation. The company currently offers an all-inclusive package at around ₹12,000 per person per day, with pricing improving by 3-4%.
The company has two vessels in its expansion plan—Sky and Sun with significant capacity additions. According to Upadhyay, Sky is scheduled for delivery on September 9, with sailings expected to begin from October 23, while Sun is expected to arrive in October 2027. The company has paid around ₹220 crore towards the two vessels through a leasing structure with payments spread over time. The upcoming Sky vessel will have around 1,000 cabins, increasing cabin capacity by 25% and featuring 269 premium cabins compared to 69 on MV Empress. Sky is expected to generate around 1.5 times the revenue of MV Empress if it operates on similar itineraries.
Waterways Leisure Tourism currently operates domestic routes covering Mumbai, Goa, Chennai, Kochi and Lakshadweep, along with international routes to Singapore, Sri Lanka, Thailand and Malaysia. The company began operations in November 2020 and operates Cordelia Cruises, which it describes as India's largest domestic cruise company with a 79% share of India's ocean cruise market. According to Upadhyay, the addition of new vessels is expected to provide significant boost to revenue and profitability, with the company targeting around 1,700 cabins and catering to approximately 3,500 passengers per day at 100% load factor once operations ramp up.
The company faced fuel cost impact of around ₹14-15 crore during the quarter, according to Upadhyay. Fuel costs are linked to crude oil prices, and the company factors fuel prices into its pricing decisions. Despite fuel price fluctuations, Waterways Leisure Tourism achieved fuel savings of around ₹10 crore during the previous year. The company's focus on infrastructure development aligns with government initiatives to improve port facilities and expand cruise tourism destinations across India.
