Delta Corp shares rise 4% on exceptional gain in Q4 earnings 

Shares of the casino gaming company Delta Corp rose over 4% after the firm reported its earnings for the quarter ended March 2024. Net profit rose 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.

Delta Corp shares climbed 4.5% to Rs 125.60 against the previous close of Rs 120.20 on BSE. Market cap of the firm climbed to Rs 3328 crore in Wednesday's session. Total 2.56 lakh shares changed hands amounting to a turnover of Rs 3.16 crore on BSE.      

The stock of the gaming and casino firm hit its yearly low of Rs 110 on October 28, 2024 and a 52 week high of Rs 259.95 on June 28, 2023. 

However, the stock has lost 42% in one year and fallen 18.30% per cent since the beginning of this year. Delta Corp stock has a one-year beta of 0.6, indicating very low volatility during the period.  

In terms of technicals, the relative strength index (RSI) of Delta Corp stands at 41.7, signaling it's trading neither in the oversold nor in the overbought zone. Delta Corp shares are trading higher than the 5 day, 10 day, 20 day but lower than the 50 day, 100 day, 150 day and 200 day moving averages.        

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. 

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.