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Last Updated : Jan 14, 2020 11:32 AM IST | Source: Moneycontrol.com

Delta Corp reports subdued operating performance in Q3, stock falls 4%

Revenue from operations was unchanged at Rs 205.1 crore for the quarter YoY due to maintenance of one casino vessel.

Answer: Sheldon Adelson (Image: Reuters)
Answer: Sheldon Adelson (Image: Reuters)
 
 
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Shares of casino operator Delta Corp fell 4 percent intraday on January 14 after it reported subdued operating performance in the quarter ended December 2019.

The company said its profit during the quarter grew 9 percent year-on-year to Rs 55.07 crore due to higher other income and lower tax expenses.

But, revenue from operations was unchanged at Rs 205.1 crore for the quarter YoY due to maintenance of one casino vessel.

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One of the casino vessels namely 'Del Tin Caravela' owned and operated by Dela Pleasure Cruise Company underwent maintenance in dry-dock and was not operational for 25 days during the quarter, which impacted the gaming revenue during the current quarter, the company said.

Casino gaming business revenue fell 3.4 percent YoY to Rs 195.2 crore and its earnings before interest and tax dropped 23.7 percent YoY to Rs 58 crore while online gaming segment registered a 8.8 percent growth in revenue at Rs 40.3 crore with EBIT surging 50.6 percent to Rs 12.8 crore compared to same period last year.

At operating level, earnings before interest, tax, depreciation and amortisation (EBITDA) declined 7.6 percent to Rs 79.04 crore and margin contracted 320bps to 38.5 percent in quarter ended December 2019, YoY.

The stock was quoting at Rs 200.40, down Rs 6.25, or 3.02 percent on the BSE at 1103 hours IST.

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First Published on Jan 14, 2020 11:32 am
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