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The Indian Gaming and Entertainment company reported a 7.2% increase in casino revenue for the financial year ending March 2024 despite drop in new income.
– Delta’s casino revenue grew 7.2%, from Rs 5.45 billion to Rs 5.85 billion, in FY 2024.
– This is despite their net income decreasing by 6.6% to Rs2.4 billion.
– The company’s board recommended a 125% dividend on equity shares.
– Delta Corp remains a key player in India’s gaming and entertainment industry.
Delta Corp, a leading Indian casino operator, announced a 7.2% increase in its casino revenue, rising from Rs 5.45 billion ($65.3 million) to Rs 5.85 billion ($70 million) for the financial year ending March 2024.
Despite this growth, the company’s net income dropped by 6.6%, down to Rs 2.4 billion ($29.2 million) from Rs 2.6 billion ($31.3 million) in the previous year.
The company also reported a 4.5% decrease in sales, dropping from Rs 9.2 billion ($109.7 million) last year to Rs 8.7 billion ($104.7 million) for the financial year ending March 31. However, Delta Corp noted an increase in net profit before tax and after exceptional items, which rose by 24.4% to Rs3.3 billion ($39.6 million).
Delta Corp’s Board of Directors has recommended a dividend on equity shares of 125%, equivalent to Rs 1.25 ($0.015) per share, pending approval from equity shareholders at the upcoming Annual General Meeting. Furthermore, the business declared that, as of February 20, 2024, Caravella Entertainment Private Limited and its subsidiary Deltin Nepal Private Limited were no longer subsidiaries.
This year’s exceptional items include a profit of Rs 619.9 million ($7.2 million) from the sale of Caravella Entertainment Private Limited and IPO expenses of Rs 31.3 million ($370,000).
Delta Corp’s strategic management and continuous improvements in customer experience have set the stage for sustained growth. The company is clearly committed to increasing market share and shareholder value even as it navigates these financial ups and downs, laying a solid basis for future success.
Delta Corp’s success is not only a company achievement but also a boost for the local economy. The increase in casino revenue leads to higher employment rates and economic activity in the regions where Delta Corp operates. The company remains committed to making a positive contribution to the economic landscape while providing world-class entertainment. Its impressive financial performance for the year ending March 2024 highlights its resilience and strategic acumen in navigating the competitive landscape of India’s casino industry. With promising growth prospects, Delta Corp is poised to continue this upward trajectory.
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