Delta Corp Q2FY22 net loss narrows at Rs22cr; stock ends marginally higher

The company's EBITDA loss stood at Rs19cr against a loss of Rs45.1cr in the last year period.

Oct 18, 2021 04:10 IST India Infoline News Service

Delta Corp
Shares of Delta Corp ended marginally higher on the stock exchange today. The company on Monday reported a consolidated net loss of Rs22cr for the September quarter (Q2FY22). The loss is narrower when compared with Rs55cr in the year-ago period (Q2FY21) and Rs29cr in Q1FY22.

The net sales of the company nearly doubled to Rs74cr vs. Rs38cre in the same quarter a year earlier.

Meanwhile, the company's EBITDA loss stood at Rs19cr against a loss of Rs45.1cr in the last year period.

The stock ended at Rs291.50 up by Rs1.55 or 0.53% from its previous closing of Rs289.95 on the BSE. The scrip opened at Rs293 and touched a high and low of Rs300.10 and Rs289.10 respectively.

The Group and the entire casino industry in Goa have made a representation to the Government of Goa, seeking a waiver / reduction / proportionate payment mechanism for casino licence fees for the period of shut down. In current period The Group has provided a proportionate charge of license fees of Rs23.75cr and Rs39.58cr for quarter and six months ended 30th September, 2021, respectively. The said license fees for the period of shut down is only provided for and the actual payment for the same has not taken place.

Due to the pandemic situation, the stress on the operations and the representations made, the management is hopeful that the Government of Goa may consider its request, favourably. In such a situation, the provision of license fees made in the books may not be payable in full or in part, as per direction of the Government of Goa, Delta Corp said.

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