Delta Corp posts net profit of US$6.24m for Q1

The company’s net profit for the quarter ended March 31 was up 6 per cent year-on-year.

India.- Delta Corp has shared its financial results for the first quarter of the year. It’s posted a net profit of Rs251 crore (US$6.24m), up 6 per cent year-on-year but down 40 per cent when compared to the previous quarter.

Revenue from operations was up 4 per cent year-on-year to Rs 227 crore but down 17 per cent on quarter-on-quarter terms. Expenses increased to Rs 184 crore, up by 11 per cent from Rs 166 crore in the fourth quarter of 2022.

Gaming revenue increased to Rs 214 crore in the January-March period as opposed to Rs 210 crore in the same period last year. Revenue from online skill-based gaming operations increased by 12 per cent to Rs 47 crore when compared to the previous quarter. Revenue from hospitality increased to Rs 16 versus Rs 12.38 crore in the previous quarter.

Prior to the financial results announcement, Delta Corp shares declined by around 3 per cent on the NSE, closing at Rs 189 crores. The share price has fallen by nearly 13 per cent since the beginning of the year. 

Delta Corp was allowed to reopen its casino venue in Goa on March 7, 2022, while its Sikkim casino reopened on February 11. The casino in Nepal returned to full capacity on February 28.