Shares of Delta Corp Limited fell over 2% after the gaming and casino company reported a 61% decline in consolidated net profit for the quarter ending September 2024. As of 10:26 am, the stock was trading 2.01% lower at ₹116.88 on the NSE, reflecting investor concerns following the weak financial results.
The company posted a net profit of ₹27 crore for the quarter, down significantly from the ₹69 crore recorded in the same period last year. The results, which were released after market hours, highlighted the impact of challenging market conditions on Delta Corp’s performance.
In addition to the earnings report, Delta Corp’s Board of Directors approved a Scheme of Arrangement in September, proposing the demerger of its hospitality and real estate business into Delta Penland Private Limited, a wholly-owned subsidiary. This scheme is pending statutory approvals, including clearance from the National Company Law Tribunal (NCLT), and no adjustments have been made in the company’s financial statements at this stage.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. The author or Business Upturn is not liable for any losses arising from the use of this information.
