 "Delta Corp hits 52-week high on strong Q1 earnings")
Delta Corp rallied 9% to Rs 107, also its 52-week high of on the BSE, after the company reported a consolidated net profit at Rs 20 crore for the quarter ended June 30, 2016 (Q1FY17) as compared to a net loss of Rs 1 crore in the year ago quarter.
Total income from operations during the quarter under review increased by 35% at Rs 109 crore against Rs 81 crore in the corresponding quarter of previous fiscal.
The company attributed the strong showing to better targeted marketing and getting on board the right customers, resulting in a stable income flow and increasing customer numbers.
Goa, where the bulk of Delta Corp’s operations lie, has become a year round destination rather than seasonal. This has boosted revenues and positively impacted profitability, it added.
The company said the income streams are steady and are bound to translate into greater revenue and growth in the months to come.
The floatel, Casino Deltin Caravella, operational in Goa, is expected to add to revenues and profitability, it added.
At 11:23 am, the stock was up 6% at Rs 104 on the BSE, as compared to 0.50% rise in the S&P BSE Sensex. The trading volumes on the counter jumped nearly five-fold with a combined 11.11 million shares changed hands on the BSE and NSE.
Total income from operations during the quarter under review increased by 35% at Rs 109 crore against Rs 81 crore in the corresponding quarter of previous fiscal.
The company attributed the strong showing to better targeted marketing and getting on board the right customers, resulting in a stable income flow and increasing customer numbers.
Goa, where the bulk of Delta Corp’s operations lie, has become a year round destination rather than seasonal. This has boosted revenues and positively impacted profitability, it added.
The company said the income streams are steady and are bound to translate into greater revenue and growth in the months to come.
The floatel, Casino Deltin Caravella, operational in Goa, is expected to add to revenues and profitability, it added.
At 11:23 am, the stock was up 6% at Rs 104 on the BSE, as compared to 0.50% rise in the S&P BSE Sensex. The trading volumes on the counter jumped nearly five-fold with a combined 11.11 million shares changed hands on the BSE and NSE.
