Delta Corp fell 3.04% to Rs 312.55 after the gaming company's consolidated net profit fell 16.72% to Rs 48.11 crore on 3.30% increase in net sales to Rs 218.32 crore in Q4 March 2022 over Q4 March 2021.
Profit before tax (PBT) fell 16.85% to Rs 63.76 crore in Q4 March 2022 over Q4 March 2021.The income from casino gaming division fell 15.62% to Rs 210.66 crore in Q4 FY22 as against Rs 249.65 crore in Q3 FY22.
The revenue from hospitality division fell 24.63% to Rs 16.80 crore last quarter from Rs 22.29 crore in the previous quarter.
The income from online skill gaming division stood at Rs 42.53 crore in Q4 FY22, higher than Rs 35.71 crore in Q3 FY22 and Rs 39.44 crore in Q4 FY21.
Delta Corp's consolidated net profit stood at Rs 66.99 crore in the year ended March 2022 as against net loss of Rs 24.10 crore in the year ended March 2021. Net sales increased 47.09% to Rs 616.13 crore in the year ended March 2022 over the year ended March 2021. EBIDTA for FY 21-22 grew by 346% YoY basis.
The company said that it posted robust numbers despite closure of operations for approx. 150 days during April 21 to September 21 on account of ongoing covid crisis. Further between January 22 to February 22 due to the Omicron wave there was a substantial decrease in visitation. In addition, Goa had the election code of conduct in place till 14th February 2022 which further restricted activity. Despite of all the above challenges, the company said it has performed well.
After the board meeting, Delta Corp chairman Jaydev Mody said: "The Q4 results have given a good closure to the year, at the same time, we are looking forward to a fantastic year ahead. The Year has shown a steady and robust performance vis a vis the previous quarters and we expect full-fledged performance in the year ahead."
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The company's board recommended final dividend of Rs 1.25 per share.
Meanwhile, the company's board approved the scheme of amalgamation of wholly owned subsidiary companies Daman Hospitality and Daman Entertainment with Delta Corp. The appointed date is 1 April 2022. The scheme is subject to regulatory approvals.
Daman Entertainment is engaged in gaming and entertainment segment. Daman Hospitality is engaged in the business of hotels, resorts, recreation centers, banquets, halls, conference hall, convention halls, business centers, restaurant.
The amalgamation will result in combination of resources, creating better synergies, optimal utilisation of resources and greater economies of scale and deriving operating efficiencies from adoption of existing technology-enabled processes. It will enable more efficient utilization of capital for enhanced development and growth of the consolidated business under a single entity. Further, it will eliminate multiple entities, legal and regulatory compliances and, reduction of administrative costs.
Delta Corp is the only listed company engaged in the casino (live, electronic and online) gaming industry in India. The company is engaged in diversified segments like casino gaming, online gaming, hospitality and real estate.
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