Delta Corp Shares Drop As Q1 Profit Plunges 68%
The stock fell as much as 5.92% during the day to Rs 134.41 apiece on the NSE.
Shares of Delta Corp. fell nearly 6% on Wednesday after its net profit declined 68% in the first quarter of the current financial year.
The entertainment and gaming firm posted a net profit of Rs 22 crore in the April–June quarter in comparison to Rs 68 crore in the same period last year, according to an exchange filing.
Delta Corp.'s revenue plummeted 30% year-over-year to Rs 181 crore, driven primarily by a 33% decline in gaming operations revenue, which fell to Rs 169.42 crore. The company also announced a final dividend of Rs 1.25 per share, subject to the approval of shareholders at the annual general meeting.
Delta Corp's stock fell as much as 5.92% during the day to Rs 134.41 apiece on the NSE. It was trading 4.74% lower at Rs 136.1 apiece, compared to a 1.18% decline in the benchmark Nifty as of 10:41 a.m.
The share price has declined 43% in the last 12 months and 7.3% on a year-to-date basis. The total traded volume so far in the day stood at 4.3 times its 30-day average. The relative strength index was at 54.
