Delta Corp posted a 1.7 per cent rise in profit for the second quarter.<\/p>\n\n\n\n\n\n\n\n
India.-\u00a0Delta Corp\u00a0<\/strong>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.\u00a0<\/p>\n\n\n\n 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.<\/p>\n\n\n\n Earlier this year, Delta Corp expressed its intention to\u00a0shift its focus towards attracting retail customers\u00a0and 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.<\/p>\n\n\n\n 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.<\/p>\n","protected":false},"excerpt":{"rendered":" Delta Corp posted a 1.7 per cent rise in profit for the second quarter.<\/p>\n","protected":false},"author":176,"featured_media":17272,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Delta Corp reported a marginal 1.7% increase in Q2 FY2023-24 net profit to Rs69.4bn, primarily driven by reduced tax expenses, while revenue saw a modest 0.2% rise. The casino gaming division grew by 3.4%, contrasting with a 14% decline in online skill gaming, prompting a strategic pivot towards retail customers and family entertainment. This financial update is overshadowed by a significant tax arrears notice of Rs111.40bn.","focusai_entities":"Delta Corp","focusai_location":"India","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.95), operator_casino (0.9), marketing_crm (0.7), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Tax Arrears Impact","query":"What is Delta Corp's strategy for mitigating the financial and operational impact of the Rs111.40bn tax arrears notice, and what are the potential implications for its capital structure and future expansion plans?"},{"label":"Strategic Shift Efficacy","query":"How will Delta Corp's strategic pivot towards a \"family destination\" model and reduced reliance on high-stakes gambling impact its GGR and NGR projections, particularly given the decline in online skill gaming revenue?"}],"footnotes":""},"categories":[163,16334],"tags":[23890],"class_list":["post-777010087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-asia-news","tag-delta-corp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777010087"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010087\/revisions"}],"predecessor-version":[{"id":777041157,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010087\/revisions\/777041157"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17272"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777010087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777010087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777010087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}