Delta Corp Shares Surge Over 4% After Q2FY24 Results Release

12 Oct 2023 , 10:39 AM

In today’s market, Delta Corp’s stock price surged by over 4% following the release of its Q2FY24 results. The company reported a 1.68% increase in net profit, rising to Rs 69.4 crore compared to Rs 68.25 crore in the same period the previous year.

Consolidated revenue for the quarter saw a marginal increase of 0.2%, reaching Rs 270.6 crore from Rs 270 crore YoY.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased slightly by 0.1%, totaling Rs 100.3 crore in Q2FY24 compared to Rs 100.4 crore in Q2FY23. Delta Corp expressed confidence in a favorable resolution regarding the recent GST tax notice it received, which alleged short payment of Goods and Service Tax (GST) amounting to Rs 16,822.98 crore from July 1, 2017, to March 31, 2022.

As per available data, the company’s stock has experienced a decline of more than 24% in the last three months, over 32% year-to-date (YTD), and more than 34% in the last year.

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