Delta Corp shares slip over 6% post Q3 earnings

Shares of Delta Corp slipped over 6% in early trade today after the gaming and casino firm announced its Q3 earnings. Delta Corp stock hit an intraday low of Rs 198, down 6.27% against the previous close of Rs 211.25 on BSE. It opened 3.48% lower at Rs 203.90. The stock has declined 29 per cent in one year and lost 4.68 per cent since the beginning of this year. Market cap of the gaming and entertainment firm fell to Rs 5,429.97 crore on BSE. Total 1.21 lakh shares of the firm changed hands amounting to a turnover of Rs 2.43 crore. 

Consolidated net profit for the December quarter rose 20.5% YoY to Rs 84.8 crore against Rs 70.38 crore in the Q3 of the previous fiscal. Revenue rose nearly 11% to Rs 273.4 crore in the last quarter against Rs 247.22 crore in the December quarter of the last fiscal.  However, operating profit excluding other income came at Rs 102.32 crore down 4.54% from Rs 107.19 crore in the Q3 of the last fiscal.  

Revenue of the Casino Gaming Division was Rs 271.81  crore against Rs 249.65 crore in the corresponding quarter of the previous fiscal. Revenue from the Online Skill Gaming Division rose to Rs 50.74 crore against Rs 35.71 crore in the Q3 of previous fiscal. However, revenue from Hospitality Division slipped to Rs 14.64 crore in Q3 against Rs 16.43 crore in the comparable period of the last fiscal.  The earnings were announced after market hours on January 17.

The stock hit a 52-week high of Rs 339.50 on April 6, 2022 and a 52-week low of Rs 162.10 on June 16, 2022. Ahead of the earnings too, the Delta Corp stock ended 2.27% lower at Rs 210.50 on Tuesday. Delta Corp shares slipped hit an intraday low of Rs 207.85, down 3.51% ahead of Q3 earnings on Tuesday.

In technical terms, the Delta Corp stock has a relative strength index (RSI) of 47.2, signaling neither the stock is overbought nor oversold. The stock has a one-year beta of 1.3, indicating very high volatility during the period. Delta Corp stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.  

Delta Corp is engaged in the operation of casino. 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.

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