Casino and hotel operator Delta Corp Ltd has been making a huge splash recently. October 11 turned out to be a landmark day for the country’s only BSE-listed gaming and hospitality giant as the company recorded the highest-ever revenue and profit for the first half of the financial year 2022-23.
The company reported consolidated revenue of INR 651 Crores and INR 125 Crores in net profit for the first half of FY 2023. The revenue from the casino gaming division for the first half of 2022-23 touched INR 273.66 Crores, with a contribution of INR 49.41 Crores from its online gaming verticals.
In its Q2 report, Delta Corp reported a year-on-year net profit of INR 68.3 crore as against a loss of INR 75 crore during the same quarter last year. The company has recorded 19.5% sequential growth in the consolidated profit. The revenue during the same period increased by 8% to INR 270 crores.
2022 is turning out to be a blockbuster year for Delta Corp. In June this year, the company’s wholly-owned subsidiary Deltatech Gaming had filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise INR 550 crore through an Initial Public Offering (IPO) and received an observation letter on September 30, which implies SEBI’s nod for the company to launch the IPO and raise the funds. The details of the company’s IPO approval are available HERE!
While Delta Corp`s revenue and profit figures dipped during the pandemic, the company’s record growth numbers in this quarter indicate that the business has made a strong comeback, beating the pre-COVID numbers and making Q2 of the current FY the best quarter for the company ever.
Delta Corp Chairman Jaydev Modi attributed the growth to increased domestic travel. Speaking about the record growth numbers, he said, “The growth can be attributed to the surge in domestic travel. This has enabled growth, and we believe that this trend will continue for a while. In the meantime, another development that is in the pipeline, which is the launch of our new vessel, is in the public domain. This will further the growth momentum and help us achieve desired results.”
Delta Group CEO Hardik Dhebar said, “The half-year results depict landmark revenue. Our consolidated revenue for the half year stood at INR 651.93 crores, and our consolidated EBITDA stood at INR 203.81 crores giving a robust growth trajectory. We are pleased with the company’s record growth numbers in this quarter and are focused on sustained growth initiatives going forward.”
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