Delta Corp shares fall 6% post weak Q1 earnings show

Shares of Delta Corp fell 6% in early deals on Wednesday after the gaming and casino player reported a 67.6 per cent fall in consolidated net profit for the quarter ended June 2024. Profit slipped to Rs 21.68 crore in the June 2024 quarter against a net profit of Rs 68 crore in the year-ago period. Net profit fell 69 percent from Rs 72 crore in the previous quarter (Q4FY24).

Shares of Delta Corp Ltd fell 5.81% to Rs 134.55 on BSE. Earlier, the stock opened lower at Rs 136.10. Market cap of the gaming and entertainment firm fell to Rs 3,677 crore on BSE. Total 5.05 lakh shares of the firm changed hands amounting to a turnover of Rs 6.99 crore. 

The stock has lost 43.08% in a year and fallen 9.08 per cent since the beginning of this year.  Revenue from operations declined 30 percent to Rs 181 crore in the June 2024 quarter from Rs 259 crore in Q4 of the previous fiscal. 

EBITDA or earnings before interest, taxes, depreciation, and amortization, slipped 68.2 percent to Rs 30.5 crore against Rs 95.8 crore a year ago. EBITDA margin also dropped to 16.9 percent as against 36.9 percent (YoY).

The board recommended a final dividend of Rs 1.25 per share subject to approval of shareholders at the ensuing annual general meeting.

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.