Delta Corp extends fall on weak Q4 earnings

Q4 consolidated net loss at Rs 10 crore against profit of Rs 12 crore due to lower revenues and higher operational cost.

Delta Corp has dipped 7% to Rs 59.30, extending its Friday’s 10% fall, after reporting a consolidated net loss of Rs 10.37 crore for the fourth quarter ended March 2013 due to lower revenues and higher operational cost. The company had a profit of Rs 11.55 crore in a year ago quarter.

“Total income from operations declined 28% to Rs 56.14 crore on year-on-year basis,” Delta Corp, India’s only listed gaming and hospitality company, said in a statement.

Meanwhile, in the company’s earning release Jaydev Mody, chairman of Delta Corp said "FY-2014 will see the fruits of our investments with the launch of ambitious new gaming and hospitality properties that will put us well ahead of the competition." 

The stock opened at Rs 58.20 and touched a low of Rs 57.70 on BSE. A combined 3.26 million shares have changed hands on the counter till 1142 hours on BSE and NSE.