Shares of Delta Corp fell over 3 per cent ahead of the gaming and casino firm’s Q3 earnings set to be announced today. Delta Corp stock hit an intraday low of Rs 207.85, down 3.51% against the previous close of Rs 215.40 on BSE. The midcap stock has fallen after two days of consecutive gain. ┬аThe stock has declined 29 per cent in one year and lost 1.03 per cent since the beginning of this year. Market cap of the gaming and entertainment firm fell to Rs 5643.96 crore on BSE. Total 4.06 lakh shares of the firm changed hands amounting to a turnover of Rs 8.58 crore. Later, the stock closed 2.27% lower at Rs 210.50 on BSE.
The stock hit a 52-week high of Rs 339.50 on April 6, 2022 and a 52-week low of Rs 162.10 on June 16, 2022.
In technical terms, the Delta Corp stock has a relative strength index (RSI) of 51.8, signaling neither the stock is overbought or oversold. The stock has a one-year beta of 1.3, indicating very high volatility during the period. Delta Corp stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.┬а
In the September quarter of the current fiscal, Delta Corp reported a profit of Rs 68.25 crore against a loss of Rs 22.57 crore in the corresponding quarter of the previous fiscal. Sales zoomed 261.31% to Rs 270 crore in Q2 against Rs 74.732 crore sales in the September quarter of 2021. Operating profit excluding other income rose to Rs 100.34 crore in the September quarter gone by against Rs 18.92 crore loss in the comparable quarter of the previous fiscal.
Revenue of the Casino Gaming Division was Rs 273.66 crore (up 6.8 times YoY), Online Skill Gaming Division revenue was Rs 49.41 crore (up 22.2% YoY) and Hospitality Division revenue was Rs 14.68 crore (up 17.2% YoY).
Total expenses rose 72.4% to Rs 186.83 crore in Q2 FY23 over Q2 FY22, on sharp increase in other expenses (up 2x YoY), employee costs (up 62% YoY) and cost of material consumed (up 2.4x YoY). The Q2 earnings were announced on October 11, 2021 after market hours. Since then, the Delta Corp stock has clocked flat returns.
Delta Corp is engaged in the operation of casino. Its segments include real estate, gaming, hospitality and others. The company operates its gaming and hospitality businesses under the DELTIN brand. The company owns three casinos in Goa, including Deltin Royale, Deltin JAQK and Deltin Caravela.
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