Delta Corp reports 59% y-o-y decline in net profit to Rs 34 crore

10 Jan 2024 , 11:26 AM

Delta Corp, a leading casino operator, reported that its consolidated net profit fell 59% year-on-year (YoY) to Rs 34.4 crore in the quarter ending December 2023. The previous year’s figure was Rs 84.8 crore.

Revenue from operations fell 15% to Rs 232 crore during the quarter, compared to Rs 273 crore in the same period previous year.

The firm recorded an EBITDA of Rs 55.5 crore in the reporting third quarter, a 45% decrease from the previous year. It was Rs 102 crore in the third quarter of last year.

Meanwhile, EBITDA margins fell drastically to 23.9% in October-December, down from 37.4% in the same time last fiscal year. Gaming revenue fell 18% to Rs 181 crore in the third quarter, compared to Rs 222 crore the previous year.

Other income for the quarter increased by 9% to Rs 12.73 crore. It was Rs 11.65 crore in the same quarter last year. Delta Corp’s net profit fell 50% from Rs 69.44 crore in the previous September quarter.

During the third quarter, the company’s overall costs increased 4% to Rs 195 crore, up from Rs 189 crore in the same quarter last year. Delta Corp shares have fallen over 40% in the last six months as the company’s subsidiaries have faced a slew of GST requests.

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