Delta Corp reports quarterly loss amid GST provision
The casino operator has made a US$32.2m GST provision following the Supreme Court’s ruling on GST obligations.
India.- Delta Corp has reported a net loss of INR2.12bn (US$22.3m) for the June 2026 quarter. That compares to a INR294.6m (US$3.09m) profit recorded in the corresponding period last year.
The quarterly loss was largely driven by an INR3.07bn (US$32.2m) GST provision, booked following the Supreme Court’s May 27 ruling on gaming-related GST obligations. The provision includes INR1.44bn (US$15.1m) in estimated GST, INR1.48bn in interest and INR143.9m in penalties. Delta Corp said it made the provision out of prudence and noted that it continues to contest aspects of the GST assessment.
Delta Corp recorded a loss before tax of INR2.80bn (US$29.3m), compared with a profit of INR379.5m (US$3.98m) a year earlier. Before exceptional items and tax, however, the group reported a profit of INR277.4m (US$2.91m), down from INR375.7m (US$3.94m) in the prior-year quarter.
Revenue from operations fell 8.5 per cent year-on-year to INR1.69bn, while total income declined from INR1.96bn to INR1.78bn. Gaming revenue decreased 12.1 per cent to INR1.52bn and casino segment profit 26.9 per cent to INR199.5m. Group EBITDA also declined 19.5 per cent to INR315m (US$3.30m), with the margin narrowing from 21.3 per cent to 18.7 per cent. Hospitality revenue increased 37.9 per cent year-on-year to INR165.5m (US$1.73m).
Delta Corp made changes to its casino operations during the quarter. Deltin Denzong Casino in Sikkim was closed following an operational review, while King Casino remained inactive after leaving its former Mandovi River location. The company plans to introduce a replacement vessel for King Casino, pending the necessary regulatory clearances.
