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Delta Corp Records Increased Income In Fourth Quarter

Posted on January 19, 2023 | 10:02 am
delta-corp-income-on-the-rise-in-4q22

Delta Corp, the largest and only listed casino operator in India, has revealed its financial results for the fourth quarter of 2022 and the numbers show a healthy increase when it comes to income.

The Indian company saw its income go up by 1 percent compared to the previous quarter and by 11.7 percent compared to the fourth quarter of 2021. The actual figure was Rs 337.19 crore, which would roughly convert into just over 41 million U.S. dollars.

The positive results were mainly due to good gains in the company’s online skill gaming and hospitality segments. Those gains were good enough to compensate for a slight quarter-on-quarter decline recorded by the company’s casino gaming division, whose income went down from Rs 273.66 crore in the third quarter to Rs 271.81 crore.

The biggest gains were recorded in the hospitality sector, its income grew by 35.1 percent to Rs 14.64 crore. The company’s online skill gaming division grew to an income of Rs 50.74 crore.

The Indian company also compiled its results for the first nine months of the financial year, which ends on 31 March 2023. The numbers show that Delta Corp’s total income more than doubled when compared to the same period of the previous fiscal year, amounting to Rs 980.16 crore.

In fact, the income generated by the company in the first nine months of the fiscal year is higher than the income which was gathered during the entire 2022 financial year, which brought in Rs 748.58 crore.

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Healthy Profit Recorded As Well

Moreover, the Indian company also recorded a solid profit in the December quarter, amounting to Rs 96.13 crore or around 11.8 million U.S. dollars. The previous quarter brought a profit of Rs 93.04 crore for Delta Corp.

The improved results prove that India continues to recover from the impact of the novel coronavirus pandemic, which brought about restrictions which kept Delta Corp’s casinos closed for months in 2021.

The company’s prospects also improved after it was allowed to place one of its offshore casinos in Goa back in business in May 2022 after a court issued a stay against the government’s environmental body.

Delta Corp operates the two largest offshore casinos in India, Deltin Royale and Deltin JAQK, along with King Casino, the only floating hotel with a casino in the country. The company also owns and operates the Deltin Suites in Goa, Casino Deltin Denzong in Sikkim, and the 176-room five-star hotel The Deltin in Daman.

The company also has a strong online presence as it operates Adda52.com, the biggest online poker site in the country, along with Adda52rummy.com and online fantasy sports site LeagueAdda.com.

SOURCE:

“Delta Corp income on the rise in 4Q22 on gains in online skill gaming, hospitality segments“. Inside Asian Gaming. January 18, 2023.

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