Delta Corp Jumps 12%, Hits Over 3 Year High After Declining Second Quarter Loss

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Delta Corp shares hit a three-year high of Rs 305.6, up more than 12% on BSE on Tuesday, after the company’s consolidated net loss narrowed to Rs 22.57 crore during the July-September quarter (T2FY22) on the back of improving operational performance. The company recorded a net loss of Rs 28.93 crore in T1FY22 and Rs 54.91 crore in T2FY21. The stock was trading at its highest level since April 2018.

The company’s total consolidated income during the quarter rose almost flat to Rs 82.52 crore from Rs 82.72 crore in the previous quarter. He had posted a total income of Rs 46.47 crore in the quarter of last year.

While reporting its second quarter (Q2) results, Delta Corp said that during part of April 2021, the company’s casinos in Goa were operating at around half or 50% of their normal capacity as they resumed. their normal activities from September 20, 2021 with restrictions. Its hotels in Goa also operated at 50% of normal capacity for part of April 2021, and then with restrictions from July 5, 2021. READ HERE

“The group and the entire Goa casino industry have made representation to the Goa government, requesting a waiver / reduction / proportional payment mechanism of the casino license fee for the closed period. The pandemic situation, the stress on the operations and the representations made, the management hopes that the government of Goa can consider its request favorably. the government of Goa, ”said Delta Corp.

Delta Corp is India’s leading listed casino and gaming company. The company is also the largest organized player in the industry and is present in all game formats, i.e. live, electronic and online. The company has established its presence in all casino destinations in India namely Goa and Sikkim. It owns and operates under offshore and land licenses, supplementing casinos with hotel assets.

Over the past three weeks, the stock has climbed 30% on the National Stock Exchange (NSE). Including Delta Corp, the NSE has added 8 more stocks to trading in the Futures and Options (F&O) segment as of October 1, 2021. Generally, stocks that enter the F&O segment are gaining traction due to the absence of circuit filters and the increase in institutional participation due to improved liquidity.

In the FY2020-21 Annual Report (FY21), Delta Corp said it has primarily capitalized on online skill games such as poker, rummy, and fantasy sports that can be played for real money. real in the majority states of India. Currently, she owns and operates the “Adda52.com” online poker site; and the online rummy site ‘Adda52rummy.com’.

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