Delta Corp posts net profit of US$2.59m for Q1

07/12/24

Net profit was down 70 per cent in quarter-on-quarter terms.

India.- Delta Corp has shared its financial results for the first quarter of the financial year 2024-25. It posted a net profit of Rs 21.68 crores (US$2.59m), down 70 per cent sequentially and 68.15 per cent when compared to last year.

Revenue from operations declined 21.5 per cent in year-on-year terms to Rs 218.31 crores (US$26.1m). The figure was down 2 per cent when compared to the fourth quarter of the financial year 2023-24.

Income from gaming operations was Rs 169.42 crores (US$20.3m), down from Rs 174.07 crores (US$20.8m) from the previous quarter. Online skill gaming revenue grew 4.2 per cent quarter-on-quarter from Rs 35.08 crores (US$4.2m) to Rs 36.55 crores (US$4.4m) while income from hospitality operations declined 9.3 per cent to Rs 12.34 crores (US$1.5m).

Earlier this year, Delta Corp expressed its intention to shift its focus towards attracting retail customers and positioning itself as a “family destination.” The company sought to reduce its reliance on high-stakes gambling, which it characterised as a “high-rolling business” with a minimal revenue contribution.

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