Delta Corp Gains After Good Q1Fy23 Results

Delta Corp, primarily a real estate company that has also diversified into casinos and is also in segments like hospitality among others, has opened trade on a firm note. The scrip gained by over 2% to day's high price of Rs. 184 as against the previous day's close of Rs. 179.7 apiece on the NSE.

The broader markets however are faring well on the good economic data as well as crude has softened below $100 per barrel. Though dollar's strength continues to weigh.

As per ICICI Direct, Delta Corp posted good results for Q1FY23 with revenue growing 14.6% QoQ to | 250.3 crore. On a YoY basis, revenues were up 230% due to lower base effect. EBITDA margin also expanded 340 bps QoQ to 35% resulting in PAT growth of 18.6% QoQ to | 57.5 crore for the quarter.

Last at around 10:44, the scrip traded only a tad higher at Rs. 179.75 per share.

Celebrated investors like Rakesh Jhunjhunwala and Mukul Agarwal have considerable stake in the firm.