Delta Corp records PAT of Rs 68 crore in Q2 FY23

Delta Corp reported a consolidated net profit of Rs 68.25 crore in Q2 FY23 as against a net loss of Rs 22.57 recorded in Q2 FY22.

Revenue increased by 3.6 times to Rs 269.97 crore in the second quarter from Rs 74.72 crore reported in the same period last year.

On the segmental front, revenue of Casino Gaming Division was Rs 273.66 crore (up 6.8x YoY), Online Skill Gaming Division revenue was Rs 49.41 crore (up 22.2% YoY) and Hospitality Division revenue was Rs 14.68 crore (up 17.2% YoY).

Total expenses rose by 72.4% to Rs 186.83 crore in Q2 FY23 over Q2 FY22, due to sharp increase in other expenses (up 2x YoY), employee costs (up 62% YoY) and cost of material consumed (up 2.4x YoY).

The company reported a pre-tax profit of Rs 93.44 crore in Q2 FY23 as compared with a pre-tax loss of Rs 25.85 crore in Q2 FY22.

Delta Corp said that in Q2 FY23, it has recorded its highest ever revenue for the quarter. The business is very resilient and has bounced back much stronger. It has surpassed the pre-covid set of numbers and have registered strong growth.

Jaydev Mody, chairman, Delta Corp, said: "The growth can be attributed to the surge in domestic travel. This has enabled the growth and we believe that this trend will continue for a while. In the meantime, other development that is in the pipeline which is the launch of our new vessel is in public domain. This will further the growth momentum and help us achieve desired results."

Delta Corp is the only listed company engaged in the casino (live, electronic and online) gaming industry in India. The company is engaged in diversified segments like casino gaming, online gaming, hospitality and real estate.

The scrip shed 0.46% to currently trade at Rs 216.45 on the BSE.

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