Delta Corp posts net profit of US$8.35m for the quarter ended Sept 30

Delta Corp posted a 1.7 per cent rise in profit for the second quarter.

India.- Delta Corp has shared its financial results for the second quarter of the financial year 2023-24. It posted a consolidated net profit of Rs69.4bn (US$8.35m). The figure was up 1.7 per cent year-on-year mainly due to a 7.4 per cent decrease in tax expenses during the quarter. 

The company reported that revenue remained relatively steady, rising 0.2 per cent rise to Rs2.71bn The casino gaming division was a key contributor, with a 3.4 per cent increase. In contrast, the online skill gaming division, encompassing poker and rummy games, saw revenue fall by 14 per cent.

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.

Apart from the impact of reduced tax expenses, other costs, excluding taxes, rose 1.8 per cent, primarily due to a 3.3 per cent rise in licence fees and registration charges. The company has been hit with a notice to pay 111.40bn rupees (US$1.34bn) in tax arrears.