Gaming Co Delta Corp Ltd announces Q1 results for FY 2023-24

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Gaming and Hospitality company Delta Corp Ltd. recently announced its Q1 results for the FY 2023-24. According to the results, company’s revenue saw a rise of 9 percent as the consolidated revenue for the year stood at Rs 272.8 crores. Whereas, the consolidated EBITDA and net profit went up by 9.5 and 18.9 percent, respectively.

Reportedly, the PAT (profit after tax) margin went up by 2.25 percent as compared to previous quarter. The same margins went up by 2 percent on Y-o-Y basis. Overall, these results portray a growth in the Mumbai-based gaming company.

As per Mint, Delta Corp chairman, Jaydev Mody, said, “The momentum set by the last FY was carried on with the 1st quarter giving us yet another milestone in form of the highest revenue ever and margin expansions at both EBITDA and Net Profit levels. Regulatory clarity over issues concerning the industry is expected in due course of time, however the company and the management are seized of the issues and concerns around the business and are confident of overcoming the same by implementing the right strategies.”

Recently, in April 2023, Delta Corp announced its quarterly results for the year ended March 2023. During this period, company’s net profit went up by 6 percent Y-o-Y, however, fell by 40 percent as compared to Q3 for FY 2022-23.

Delta eyeing big projects in the near future

More recently, in June, Mr Ashish Kapadia was reappointed as the Managing Director. Kapadia will now hold the position till April 2029. Notably, this term will complete his two decades while serving the position as an MD at Delta Corp.

Meanwhile, Delta Corp has eyed big plans in the near future. It is working on its resort-cum-casino project named Deltin Town. The Goa-SEAC has already approved the project, which is spread across 90 acres.

Located in Dhargalim, Goa, the project is just a step away to receive environmental nod. However, an NGO has opposed this project claiming that casinos will have a negative impact on Goa’s youth and children.