Delta Corp Profit Rises Nearly 2% In Q2, Revenue Flat

The Mumbai-based casino and gaming company, Delta Corp reported a marginal rise of about 2% in its second-quarter profit at Rs 69.40 crores vs 68.30 crores, while revenue came in to be flat at Rs 270.60 crores vs Rs 270 crores on a year-on-year basis.

The company's operating profit/earnings before interest, tax, depreciation and amortization remained flat on a yearly basis at Rs 100.10 cr vs Rs 100.4 crores YoY. The operating margin too remained unchanged at 37.1% compared to 37.2% from the same period last year.

The company has made changes to its senior management and has appointed Anil Malani as its president and Chief Financial Officer (CFO) with effect from October 11, 2023. Malani has an experience of 35 years from across various industries. He has left a mark of his presence in industries ranging from hospitality, entertainment and tech.

Furthermore, the company also appointed Manoj Jain as its chief operating officer (COO), effective from October 11, 2023. He has been with Delta Corp since July 2008. Jain has held various significant positions in the company including, senior vice president. He will take over the responsibility of overseeing the comprehensive operations of Delta Corp's key assets, including the well-known Deltin Casinos & Hotels.

The results come almost 20 days after the company and its three subsidiaries received tax notices of a total amount of Rs 16,822 crores from the Directorate General of GST Intelligence for a period between July 2017 and March 2022. The stock slumped as much as 18% to hit a 33-month low soon after the notice.

Delta Corp shares snapped their 5-day gaining streak in today's session and are currently trading with cuts of nearly 1% at Rs 141.70 per share.