Top Stories

Delta Corp Q1 PAT Declines 68% YoY to Rs 22 crore in FY25

Jul 13, 2024

By: BlinkX Research Team

Delta Corp Limited reported a 68.2% fall in consolidated net profit to Rs 21.68 crore in the first quarter of FY25 on Tuesday, July 9. Last year, the business declared a net profit of Rs 68.18 crore.
 

Key Takeaways from Delta Corp Financial Performance

• Delta Corp Limited reported a 68.2% slump in consolidated net profit to Rs 21.68 crore in Q1 FY25 on Tuesday.
• Revenue from operations fell 30.32% YoY to Rs 180.65 crore in the June quarter against Rs 259 crore in the last fiscal year.
• The board proposed a final dividend of Rs. 1.25 per share.
   

The company's income from operations plummeted 30.32% YoY to Rs 180.65 crore in the June quarter, compared to Rs 259 crore in the previous fiscal year.
 

Delta Corp earnings before tax plummeted 65.09% to Rs 32.12 crore in the quarter ended June 2024, compared to Rs 92.02 crore in the same quarter the previous year.
 

Furthermore, the gaming and hotel firm's EBITDA, or profits before interest, taxes, depreciation, and amortisation, decreased 68.09% to Rs 30.58 crore, compared to Rs 95.82 crore the previous year. While its EBITDA margin fell to 16.93% from 36.96% YoY in the quarter ended June 2024.
 

Revenue from Gaming operations stood at Rs 169.42 crore, down 25.31% on the previous year. Revenue from the hospitality business was down 17.24% on the previous year. However, revenue from online gaming operations stood at Rs 36.55 crore, up 0.22% on the previous year during the April-June quarter. 
 

Further, the Board of Directors proposed a final dividend of Rs 1.25 per share, subject to shareholder approval at the next Annual General Meeting.
 

The company also announced in the meeting that its board has accepted the nomination 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, founded in 1990, is the sole publicly traded corporation in India's casino (live, electronic, and internet) gambling sector. It began as a textile and real estate advisory firm and has since expanded into a variety of industries, including casino gambling, internet gaming, hotel and real estate. Delta strives to produce long-term value for its nearly 2,000 workers, 250,000 shareholders, society, and consumers. 
 

The corporation and its subsidiaries now own and operate casinos in India, namely in the states of Goa and Sikkim. Delta Corp has also entered the rapidly expanding online gambling industry by the acquisition of Gaussian Networks Private Limited, which operates the online poker site 'Adda52.com'. The corporation owns three out of six offshore gambling licences granted in Goa, one land-based casino in Goa and one in Sikkim, and two online gaming sites.

Delta Corp operates Deltin Royale, Deltin JAQK, and Kings Casino, three of six country's major offshore casinos. The firm also owns and manages Deltin Suites, a 106-room all-suite hotel with a casino in Goa. The corporation also operates Casino Deltin Denzong, housed at the Denzong Regency Hotel in Gangtok, Sikkim. Delta Corp also owns and runs The Deltin, a five-star hotel with 176 rooms in Daman that is part of an integrated resort with a projected casino. It also owns and runs two online poker sites: 'Adda52.com' and 'Adda52rummy.com'.

Read More About Delta Corp Share Price Here!