Delta Corp shares close higher ahead of Q1 earnings, up 20% since Q4 results

Shares of Delta Corp Ltd ended higher on Monday a day ahead of the gaming and casino firm’s June quarter earnings set to be announced on July 9. Delta Corp stock closed 7.74% higher at Rs 147.95 on Monday against the previous close of Rs 134.45 on BSE. It opened on a flat note at Rs 134.80. The stock has lost 41% in a year and fallen 4.33 per cent since the beginning of this year. Market cap of the gaming and entertainment firm rose to Rs 3878 crore on BSE. Total 5.75 lakh shares of the firm changed hands amounting to a turnover of Rs 8.19 crore.  The stock has gained 20.50% since Q4 earnings of the last fiscal weer announced.

In terms of technicals, the relative strength index (RSI) of Delta Corp stands at 57.6, signaling it's trading neither in oversold nor in the overbought zone. Delta Corp stock has a one-year beta of 0.6, indicating very low volatility during the period. The stock is trading higher than the 5-day, 10-day, 20-day, 50-day, 100-day and 200-day moving averages.

At the current level, the stock is down 43% from its 52-week high of Rs 255.50 reached on July 7, 2023. The stock fell to its 52 week low of Rs 104.30 on June 4, 2024

Q4 earnings

Net profit climbed 41.5% to Rs 72.4 crore for the fourth quarter of the financial year 2024, led by an exceptional gain of Rs 49.78 crore. In Q4 of FY23, profit stood at Rs 51.30 crore. However, revenue from operations slipped 9 percent YoY to Rs 194.8 crore in the March 2024 quarter against Rs 214.31 crore in the March 2023 quarter.

The Board of Directors recommended, subject to the approval of the equity shareholders at the ensuing Annual General Meeting, a dividend on equity shares of 125% i.e. Rs 1.25 per equity share. 

 About Delta Corp 

Delta Corp is engaged in the operation of casinos. Its segments include real estate, gaming, hospitality and others. The company operates its gaming and hospitality businesses under the DELTIN brand. The company owns three casinos in Goa, including Deltin Royale, Deltin JAQK and Deltin Caravela.