It may not be only Wine Tourism is the driver for seasonality. Tourism reported revenues actually are largest in the Mar quarter. There is a seasonality in the wine business - primarily due higher consumption during ‘festival’ season. See revenues by quarter (INR mn) and segment for the last two financial years. The Mar quarter is the largest quarter for wine tourism
Segment revenues | Q1 FY23 | Q2 FY23 | Q3 FY23 | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 |
---|---|---|---|---|---|---|---|---|
Own brands | 783 | 1,133 | 1,856 | 1,035 | 1,017 | 1,268 | 1,928 | 1,129 |
Wine Tourism | 103 | 96 | 124 | 127 | 115 | 121 | 147 | 164 |
Others | 86 | 48 | 103 | 38 | 34 | 39 | 100 | 24 |
However, please note that the wine tourism reported revenues are primarily revenues for hospitality. There is also an element of wine sales (e.g. through their shops) that are captured as part of wine sales (rather than tourism sales). In the call yesterday they indicated this number is ~15% of wine sales.
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