Delta Corp ends lower after Govt. of Goa extends restrictions till July 19

"We are unable to estimate the quantum of potential losses on account of this temporary closure and the pandemic at this time,” the company said in the regulatory filing.

Jul 13, 2021 04:07 IST India Infoline News Service

Delta Corp
Shares of Delta Corp ended lower on the stock exchanges amid bullish trade on Tuesday. The stock went under pressure the Government of Goa has extended the restrictions in the state till July 19, 2021, and casinos operated by the company remain closed.

“Further to our previous disclosures on various dates, please note that due to the surge in COVID-19 cases being witnessed in Goa, the Government of Goa inter-alia has extended the restrictions in the state till July 19, 2021.

Accordingly, the casinos operated by the Company and its subsidiaries in Goa will remain closed during this period. We are unable to estimate the quantum of potential losses on account of this temporary closure and the pandemic at this time,” the company said in the regulatory filing.

Meanwhile, Delta Corp reported 34.92% growth in total revenues for the Jun-21 quarter on consolidated basis at Rs82.72cr. On a sequential basis, the revenues were down -61.99% compared to Rs217.62cr revenues reported in the Mar-21 quarter.

This sharp fall in revenues was on account of COVID 2.0 once again imposing restrictions on the gaming and casino operations of Delta Corp. On a yoy basis, the Casino gaming revenues partially made up but it was still lower than the sequential quarter. Hospitality also did better on a yoy basis.

The net loss for the Jun-21 quarter was almost flat yoy at Rs-28.93cr as the company made an operating loss in its core casino gaming business as well as its hospitality business. Even the EBITDA from the online skill gaming division was sharply lower compared to previous quarters.

The stock ended at Rs188.25 down by Rs2.2 or 1.16% from its previous closing of Rs190.45 on the BSE.

The scrip opened at Rs190 and touched a high and low of Rs191.65 and Rs187.10 respectively.

Related Story

Open Free Demat Account (Rs699)
Open ZERO Brokerage Demat Account

  • 0

    Delivery Brokerage for Lifetime

  • 20

    Per order for Intraday, F&O, Currency & Commodity