Nicco Parks & Resorts reported a widened net loss in its first quarter of FY27, reflecting continued pressure on its amusement park and resort operations in Kolkata. The company posted a standalone net loss of ₹72.87 lakh for the quarter ended June 30, 2026, compared to a net loss of ₹31.58 lakh in the same period last year. This deterioration follows a pre-tax loss that expanded to ₹82.78 lakh from ₹54.47 lakh year-on-year.

Revenue performance also softened, with total income from operations falling 26.8% year-on-year to ₹19.05 crore, down from ₹26.29 crore in Q1FY26. The decline coincides with ongoing regulatory uncertainties regarding the lease agreement for the land hosting the company’s primary assets.

Financial Performance

The consolidated financial results mirrored the standalone figures, with total income remaining flat at ₹19.05 crore due to the absence of significant subsidiary contributions impacting the top line differently. The consolidated net loss stood at ₹72.24 lakh, slightly lower than the standalone loss.

Note: Previous year figures derived from disclosed EPS and share capital data where direct quarterly net profit was not explicitly tabulated in the extract but implied by the comparison context.

What the Numbers Show

The divergence between the relatively stable equity base and the deteriorating profitability highlights the fixed-cost burden on the company. With other equity standing at ₹99.44 crore as of March 31, 2026, the current quarter’s loss represents a minor erosion of net worth. However, the 27% drop in revenue suggests that visitor footfalls or ticket pricing have been impacted by the operational limbo surrounding the lease status.

Operational Challenges

The primary headwind remains the unresolved lease renewal with the Department of Tourism, Government of West Bengal. The initial 33-year lease term expired on February 28, 2023. Although the management states that an application for renewal is under active consideration and principle approval has been given, the formal agreement remains unexecuted.

Compounding this issue, the state government repossessed approximately 1.46 acres of land used for F&B and recreational facilities in November 2025. Pending formalization of new arrangements, Nicco Parks continues to manage these operations on behalf of the West Bengal Tourism Development Corporation Limited (WBTDCL). The company recognized management and supervision charges of ₹5.48 lakh for the quarter, a sharp decline from ₹31.10 lakh in the preceding quarter ended March 2026.

Board Actions and Dividend

Despite the loss, the Board of Directors approved an interim dividend of 25 paise per equity share of face value ₹1 each. The board also noted provisions for employee benefit expenses related to the implementation of the new Labour Codes notified by the Government of India in November 2025.

The unaudited financial results were reviewed by the Audit Committee and approved by the Board at its meeting held on August 13, 2026. The statutory auditors have conducted a limited review of the results.

Nicco Parks & Resorts Ltd has expanded its Board with the appointment of two new directors, Shri Soumitra Sankar Sengupta and Mr. Shiv Siddhant Narayan Kaul, effective July 20, 2026. The appointments were approved during a board meeting held on the same day, following recommendations from the company's Nomination & Remuneration Committee. These changes aim to strengthen the governance structure of the amusement park and hospitality company.

Shri Soumitra Sankar Sengupta has been appointed as the Nominee Director of West Bengal Tourism Development Corporation Limited. A 2009 batch IAS officer of the West Bengal cadre, Sengupta currently serves as the Secretary of the Tourism Department and holds the position of Managing Director at West Bengal Tourism Development Corporation Limited. His appointment brings significant administrative experience to the Board.

Mr. Shiv Siddhant Narayan Kaul has been inducted as a Non-Executive & Non-Independent Director. Kaul brings extensive business leadership and governance experience, with a background in both domestic and international markets. He is an honours graduate with a dual degree in Computer Science and Economics and holds a Masters in Operation Research and Financial Engineering from Princeton University, New Jersey, USA. Additionally, he possesses significant exposure to the Theme Parks Industry.

The Board confirmed that both appointees fulfil the conditions specified under the Act and relevant rules. Neither director is debarred from holding the office of Director pursuant to any order of SEBI or any other authority. Furthermore, the disclosures confirm that neither Sengupta nor Kaul is related to any other existing directors on the Board.

The board meeting, which commenced at 12:00 Noon and concluded at 03:35 P.M., addressed these statutory appointments. The company has communicated these changes to the Bombay Stock Exchange Ltd, adhering to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Appointments