Delta Corp share price tanked more than 7 percent intraday on June 1 after it emerged that ace investor Rakesh Jhunjhunwala sold 25 lakh equity shares, representing 0.93 percent of the stakeholding, in the last few days of May.
Jhunjhunwala's stake has now been reduced to 6.16 percent from 7.1 percent.
In a November 18, 2016 note, he said he held 2.37 crore equity shares (10.27 percent) in Delta Corp.
Between October 31, 2017 and May 27, 2022, he reduced the holding in the casino-gaming company by 57.5 lakh shares, 2.15 percent of the total paid up equity.
During May 30-31, Jhunjhunwala further sold 15 lakh shares (0.56 percent). "Thereby resulting in total change of 2.71 percent of total paid up equity of Delta Corp," he said.
"This takes our total shareholding to 1.65 crore equity shares of the company. which is 6.1695 percent of total paid-up equity," said Jhunjhunwala.
Delta Corp recorded a 16.7 percent declined in its Q4FY22 net profit at Rs 48.1 crore, dented by muted topline growth and weak operating performance. Revenue grew 3.3 percent to Rs 218.3 crore from the the year-ago period.
Earnings before interest, tax, depreciation and amortization (EBITDA) were down 12.8 percent at Rs 69 crore and rge margin contracted 590 bps YoY to 31.6 percent in quarter ended March 2022.
At 3.07 pm, Delta Corp stock was trading at Rs 211.6, down 3.11 percent, on the NSE.
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