Delta Corp posts 68% decline in Q1 net profit; stock tumbles ~5%

10 Jul 2024 , 02:12 PM

Delta Corp Ltd reported a 68.04% YoY fall in net profit to ₹21.7 Crore for the first quarter ending June 30, 2024.

Following this development, the company’s counter slipped over 5% to an intraday low of ₹135.60 on NSE.

At around 10.37 AM, Delta Corp was trading 4.72% lower at ₹136.13, against the previous close of ₹142.87 on NSE.

Delta Corp reported a quarterly net profit of ₹67.9 Crore in a regulatory filing. The company’s revenue from operations decreased by 30.3% to ₹180.7 Crore, down from ₹259.3 Crore in the previous fiscal year.

In Q4 this fiscal, EBITDA decreased by 68.2% to ₹30.5 Crore from ₹95.8 Crore the previous year.

The EBITDA margin was 16.9% in the reporting quarter, compared to 36.9% in the same period last fiscal year. EBITDA is earnings before interest, taxes, depreciation, and amortisation.

The board recommended a final dividend of ₹1.25 per share, subject to shareholder approval at the upcoming Annual General Meeting.

Delta Corp also announced that its board has accepted the nomination of Tara Subramaniam and Pankaj Razdan as Additional Directors designated as Non-Executive Independent Directors for a five-year term.

The stock has gained more than 20% in the last month, but it is currently trading lower than the month’s high, which was hit on June 19. However, the stock has fallen dramatically during the last year, by more than 41%.

For feedback and suggestions, write to us at [e-mail]