Gaming Company Delta Corp's Shares Slump Over 4% After 60% Slump In Profits

Gaming Company Delta Corp's Shares Slump Over 4% After 60% Slump In Profits

The company, in its exchange filing, reported consolidated revenue of Rs 180.65 crore in the quarter that ended in June 2024. Compared to the Rs 194.81 crore in Q4 of FY24 or the quarter that ended in March 2024. This meant a 7.26 per cent decline in its revenue.

Juviraj AnchilUpdated: Wednesday, July 10, 2024, 10:49 AM IST
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Delta Corp Allots 1,75,500 Equity Shares As Employee Stock Options | File Photo

The earnings season is upon us, and with it comes a plethora of possibilities that could alter the shape of individual shares and the markets are large. In a recent development in tune with that phenomenon, the gaming and hospitality company Delta Corp. appears to have been hit by a wave of poor performance at the end of the quarter.

Delta Corp Profits Drop

The Mumbai-based company recently released its quarterly results for the first quarter or Q1, of the current fiscal year or FY25. And the showing was in decline as the company's profits and revenue dipped compared to previous quarters.

The company, in its exchange filing, reported consolidated revenue of Rs 180.65 crore in the quarter that ended in June 2024. Compared to the Rs 194.81 crore in Q4 of FY24 or the quarter that ended in March 2024. This meant a 7.26 per cent decline in its revenue.

The company, in its exchange filing, reported consolidated revenue of Rs 180.65 crore in the quarter that ended in June 2024. Compared to the Rs 194.81 crore in Q4 of FY24 or the quarter that ended in March 2024. This meant a 7.26 per cent decline in its revenue. | Representative Image/pexels

This also impacted the company's shares, with the stock's value declining by over 4 per cent in the early hours of the day's trade.

The company, in its exchange filing, reported consolidated revenue of Rs 180.65 crore in the quarter that ended in June 2024. Compared to the Rs 194.81 crore in Q4 of FY24 or the quarter that ended in March 2024. This meant a 7.26 per cent decline in its revenue.

When we look at the net profit before tax for the previous quarter, it stood at Rs 30.42 crore, compared to Rs 41.92 crore.

Delta Shares Slump

The numbers are even lower compared to the numbers from the same time last year, the first quarter of FY24, when the profits attained stood at Rs 91.61 crore, marking a slip of a massive 66.79 per cent, as per the statement of unaudited consolidated financial results.

On Wednesday, July 10, at 10:36 IST, the company shares dropped by a mammoth 4.70 per cent or Rs 6.72, taking the value of each individual share to Rs 136.15.

On Wednesday, July 10, at 10:36 IST, the company shares dropped by a mammoth 4.70 per cent or Rs 6.72, taking the value of each individual share to Rs 136.15. | Representational Image/Pixabay

This development naturally appears to have affected the company's shares as well. Some, if not many, of the investors appear to be moving away from this gaming and hospitality company.

On Wednesday, July 10, at 10:36 IST, the company shares dropped by a mammoth 4.70 per cent or Rs 6.72, taking the value of each individual share to Rs 136.15. This company has had a tumultuous period when it was slapped with multiple GST notices, resulting in a major slump in its share prices.

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