Delta Corp Q1 Results Highlights: Shares Rise after 25% Profit Growth

Synopsis

The company's revenue from operations declined 30.3% to ₹180.7 crore against ₹259.3 crore in the year-ago period. Shares of Delta Corp Ltd ended at ₹142.85, down by ₹2, or 1.38%, on the BSE.

Delta Corp Q1 Results Highlights

Delta Corp Ltd, an online gaming company, announced a 68.04% decrease in net profit year-on-year (YoY) to ₹21.7 crore for the first quarter ending June 30, 2024, on Tuesday, July 9.

In the same quarter of the previous year, Delta Corp reported a net profit of ₹67.9 crore, according to the company's regulatory filing. Revenue from operations fell by 30.3%, dropping to ₹180.7 crore from ₹259.3 crore in the corresponding quarter of the last fiscal year.

On the operational front, EBITDA decreased by 68.2%, reaching ₹30.5 crore in this fiscal's first quarter compared to ₹95.8 crore in the same period last year.

The EBITDA margin was 16.9% for the current quarter, down from 36.9% in the corresponding period of the previous fiscal year. EBITDA stands for earnings before interest, tax, depreciation, and amortisation.

These results were released after market hours. Delta Corp share price closed at ₹142.85, a decline of ₹2 or 1.38%, on the BSE.

The board proposed a final dividend of ₹1.25 per share, pending shareholder approval at the upcoming Annual General Meeting. Additionally, Delta Corp announced the appointments of Tara Subramaniam and Pankaj Razdan as Additional Directors, designated as Non-Executive Independent Directors, for a five-year term.

About Delta Corp Limited

Delta Corp Limited, along with its subsidiaries, engages in the gaming, entertainment, and hospitality industries both in India and abroad. It operates under three main segments: Casino Gaming, Online Skill Gaming, and Hospitality.

The Casino Gaming segment includes offshore casinos such as Deltin Royale, Deltin JAQK, and King Casino in Goa, as well as land-based casinos like Deltin Suites Casino and Deltin Zuri in Goa, Deltin Denzong in Sikkim, and Deltin Casino in Kathmandu, Nepal.

In the Online Skill Gaming segment, Delta Corp operates Adda52.com, a platform for online poker; Adda52Rummy.com, a site for online rummy; and Adda.games, which provides various online multi-games.

The Hospitality segment features The Deltin, a five-star hotel in Daman offering 176 rooms, three gourmet restaurants, and two bars. Additionally, Deltin Suites, an all-suite hotel in Goa, includes 106 rooms, a restaurant, a bar, and gym and spa facilities.

Delta Corp Limited, founded in 1990, is headquartered in Mumbai, India.