Delta Corp Ltd Net Profit Takes A Massive Blow
Indian gaming and hospitality corporation, Delta Corp Ltd. owns and operates several hotels and casinos under several brands. During the final quarter of 2020, the company has taken a huge blow to its net profits. It has suffered a decline of 97.68% in the final quarter of the 2020 as the Sales decline 41.10% to ₹120.82 crore.
Back in October 2020, Delta Corp subsidiary, Delta Pleasure Cruise Company, acquired upto 45% stake in Waterways Shipyard in order to boost the company profile. However, according to renowned media houses like Business Insider and Capital Market publication, the net profit of the company declined by 97.68% to Rs 1.28 crore in the quarter ended December 2020 as against Rs 55.07 crore during the previous quarter ended December 2019.
This is probably down to the sales as the figures state that sales declined 41.10% to Rs 120.82 crore in the quarter, with a net reduction of around 85 Crore as compared to the previous valuation in December 2019. As a matter of fact, in the quarter ended September 2020, the Net loss of Delta Corp reported to Rs 54.91 crore with the sales declining by 80.90% to Rs 38.37 crore as compared to the previous year’s analytics.
Taking all of this into context, it is also worth mentioning that Delta Corp is the only listed company engaged in the casino gaming industry in India.
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