Delta Corp witnessed a 3% dip in its shares during early trade on January 10, following a substantial 59% decline in its Q3 net profit to Rs 34 crores. As of 9:15 am, the Delta Corp stock was trading at Rs 143.24 on NSE.
The casino and gaming services provider, Delta Corp, reported a consolidated net profit of Rs 34.48 crore for the quarter ending in December, marking a significant 59.34% decrease from the Rs 84.82 crore net profit reported in the same quarter the previous year. The company’s revenue from operations for the quarter amounted to Rs 234.41 crore, reflecting a 15.58% decline from the Rs 277.68 crore recorded in the corresponding quarter of the previous fiscal year, as indicated in the exchange filing.
Anil Malani from Delta Corp revealed on CNBC-TV18 that the company encountered challenges in the Oct-Nov quarter due to the impact of a higher GST regime. The upfront payment of a 28% GST on chips contributed to a slump in revenue during this period. Despite these challenges, Malani expressed optimism for a potential revival in Q4. Additionally, he disclosed that one of Delta Corp’s ships is scheduled for dry docking in January.
