Delta Corp drops on profit booking

Delta Corp dropped 1.69% at Rs 87.20 at 11:15 IST on BSE on profit booking after announcing good Q4 results after gaining 6.35% in previous two trading sessions ahead of the results.

Shares of Delta Corp had gained 6.35% in two trading sessions to settle at Rs 88.70 yesterday, 25 April 2016 from its close of Rs 83.40 on 21 April 2016.

Meanwhile, the S&P BSE Sensex was down 27.63 points or 0.11% at 25,665.62

Higher than usual volumes were witnessed on the counter. On BSE, so far 5.87 lakh shares were traded in the counter as against average daily volume of 4.04 lakh shares in the past one quarter. The stock hit a high of Rs 89.80 and a low of Rs 86.70 so far during the day. The stock had hit a 52-week high of Rs 93.90 on 2 December 2015. The stock had hit a 52-week low of Rs 49 on 29 February 2016. The stock had underperformed the market over the past one month till 25 April 2016, surging 40.46% compared with 1.35% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 25.11% as against Sensex's 4.87% rise.

The mid-cap company has equity capital of Rs 23.07 crore. Face value per share is Re 1.

Delta Corp's consolidated net profit surged 3533.33% to Rs 28.32 crore on 18.07% rise in total income to Rs 106.41 crore in Q4 March 2016 over Q4 March 2015. The sharp surge in Delta Corp's bottom line during the quarter was aided by surge in other income or non-operational income. Other income spurted 600% to Rs 19.39 crore in Q4 March 2016 over Q4 March 2015. The result was announced after market hours yesterday, 25 April 2016.

Delta Corp is one of the largest gaming and hospitality company in India.

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