Delta Corp asks for waiver on licence fees
As India faces a rapid rise in Covid-19 cases, Delta Corp has asked authorities for a waiver on licence fees due to the impact on its venues.
India.- With India suffering from a serious health crisis as a result of an increase in Covid-19 cases, Delta Corp has reported results for the final quarter of the 2020 fiscal year and asked authorities for a waiver on its licence fees.
Delta Corp was forced to close its casinos from April 1 until the end of October 2020, and now board members fear there will be a new lockdown in the following days due to the rise in Covid-19 cases.
The company stated in its financial report that Delta Corp is debt-free and has adequate liquidity available to comply with its liabilities and obligations.
However, the management has asked the state government of Goa for a reduced payment mechanism for its casino licence fees for the period from April 2020 to October 2020.
During the last quarter of 2020, Delta Corp reported a profit of Rs1.28 crore (US$176,000), which represented a fall of 97.7 per cent year-on-year but a return to profit after a loss of Rs54.91 crore (US$7.6m) in the prior quarter.
For the first quarter of 2021, Delta Corp reported that sales rose 40.57 per cent to Rs 133.22 crore while net profit for the full year declined 12.87 per cent to Rs 86.75 crore.
