Delta Corp Shares Tumble 4.7% as Q1 Profits Plunge 67.6%

Delta Corp's Q1FY25 profits plunged 67.6% to ₹21.68 crore, while revenue fell 30.3% to ₹180.7 crore, leading to a 4.7% decline in the stock price.
Delta Corp Shares Tumble 4.7% as Q1 Profits Plunge 67.6%

Delta Corp, the gaming and casino company, witnessed a sharp 67.6% decline in its consolidated net profit to ₹21.68 crore for the first quarter of FY25. The company’s revenue also fell by 30.3% to ₹180.7 crore during the period.

The gaming firm’s EBITDA plunged 68.2% to ₹30.5 crore, and its EBITDA margin contracted significantly from 36.9% to 16.9%. This poor financial performance led to a 4.7% drop in Delta Corp’s share price in early trade.

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Despite the weak quarterly results, Delta Corp’s board has recommended a final dividend of ₹1.25 per share, subject to shareholder approval. The company also announced the appointment of two new independent directors to its board.

The stock has been on a rollercoaster ride in the past year, touching a 52-week high of ₹247.95 and a low of ₹104.30. The recent 20% jump in the stock price was due to industry-wide expectations of relief from the GST Council, which ultimately did not materialize.

Investors remain cautious about Delta Corp’s future prospects, as the gaming industry continues to face uncertainty regarding tax policies and regulatory changes. The stock was trading 1.2% lower at ₹141.15 during the early trading session.

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