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Delta Corp Net Profit Witnesses A Spike In Gaming Revenues

Delta Corp, an Indian gaming and hospitality corporation, reported a year-over-year (YoY) growth of 16.81% in consolidated revenue for the March 2021 quarter, bringing the figure at INR 211.34 Crore. Out of the company’s three key verticals, there was a dip in revenue in the online skill gaming and their hospitality business.

However, the company experienced a 32% spike in revenue from gaming verticals due to the removal of restrictions in various phases. While this may be the case, the second wave of the coronavirus is expected to affect operations especially with regards to its gaming business from its casinos in Goa.

ALSO READ: Delta Corp Limited gets license to operate casino in Nepal!

According to reports, their consolidated Profit After Tax (PAT) for the March 2021 quarter went up by 98.93% and brought in a revenue of INR 57.77 Crore. This was because of a spike in their gaming revenue which resulted in a better absorption of fixed costs. For the full financial year of 2021, Delta Corp along with other gaming and casino companies have sent a representation to the Goa government for a waiver in license fees.

Delta Corp is confident that the waiver will be approved. If this happens, the company’s profits could further experience a boost. Net margins for the March 2021 quarter expanded to 27.34% when compared to 16.54%in the March 2020 quarter and could improve further if waiver is accepted.

Currently, India is experiencing its second wave of the coronavirus pandemic. This has resulted in many states like Goa and Maharashtra to impose strict lockdowns and night curfews to curb the spread of the virus. Goa recently implemented a night curfew from 10 PM to 6 AM but allowed casinos to remain open and operate at half their capacity.

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