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Delta Corp Limited Mar-23 Quarter (Delta Corp), Revenue decreases sharply by 16.9% to Rs.227 Crore and Profit shrinks by 4.0% to Rs.51 Crore

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Gaming and hospitality corporation that owns and operates casinos and hotels, Delta Corp, has announced a revenue of Rs.227 Crore, which has plunge by 16.9% as compared to previous quarter revenue of Rs.273 Crore. As compared to revenue of Mar-22, there is a rise by 4.0% from Rs. 218 Crore. to Rs.227 Crore.                                                             


The Major Segments have been, Casino Gaming Division and online skill gaming. The share of each major segments are Casino Gaming Division : 214 Crore [94.4%] and online skill gaming : 47 Crore [20.9%]. The change in segment revenue of Casino Gaming Division segment lessen by -21.1% and online skill gaming segment shrinks by -6.6% during the quarter.       


                                         

Delta Corp , quarterly profit has slip by 4.0% to Rs.51 Crore from Rs.85 Crore . Net Profit Margin of the company slides from 31.1% to 22.6% .                                                                       


On analysis, it is observed that this Quarter's EBITDA (Operating Profit) Margin has shrinks to 26.5% from 37.4% . The reason for the lessen of EBITDA Margin is due to,                                                            

a) Cost to Revenue % of Cost of Sales has slightly changes to 6.6% (Previous Quarter: 6.5%). Cost of Sales in absolute terms has drops from Rs.18 Crore to 15 Crore.                                                         

b) Cost to Revenue % of Employee Cost has zooms to 18.7% (Previous Quarter: 14.4%). Employee Cost in absolute terms has grown from Rs.39 Crore to 43 Crore.                                                                   

c) Cost to Revenue % of Other Expenses has zooms to 48.2% (Previous Quarter: 41.7%). Other Expenses in absolute terms has shrinks from Rs.114 Crore to 110 Crore.                                                                


The finance cost has plunge from Rs.3 Crore to 2 Crore by -16.2%.



On an annual basis, the company has clocked revenue of Rs. 1021 Crore. It has flies by 65.7% from previous financial year revenue of Rs. 616 Crore. Annual Profit has skies to Rs.262 Crore from Rs.68 Crore, a year ago. Net Profit After Tax Margin has soars from 11.0% to 25.7%.                                                                      

Primary reason that yearly profit has skies during the year is due to :

a) Cost to Revenue % of Cost of Sales has surge to 6.4% (Previous Year: 6.0%). In Absolute, Cost of Sales has balloons from Rs.37 Crore to 65 Crore.                                                           

b) Cost to Revenue % of Employee Cost has turndowns to 15.6% (Previous Year: 20.0%). In Absolute, Employee Cost has zooms from Rs.123 Crore to 159 Crore.

c) Cost to Revenue % of Other Expenses has slumps to 43.7% (Previous Year: 53.0%). In Absolute, Other Expenses has jumps from Rs.327 Crore to 447 Crore.                                            

                  

The finance cost during the year has skies from Rs.6 Crore to 10 Crore by 63.2%.


Price to Earning (PE) ratio of the company is 25.48 as compared to the Industry PE of 79. PE is better placed which signifies that neither company is overvalue or undervalued. Companies Return on Equity (ROE) is 11.8% and Return of Capital Employed (ROCE) is 15.2%                                                             

Company has in the past four years reflected a Compounded Annual Growth Rate (CAGR) in Revenue of 24.9.

                                                                       

To summarize, Revenue has plunge by 16.9%. Gross Margin has nearly maintains same from 93.5% to 93.4%. EBITDA Margin has shrinks to 26.5% from 37.4%. and Net Profit After Tax Margin has slides from 31.1% to 22.6%.                                                                      


The Brief of Quarterly Results is as follows:                                                           


Disclaimer : The information and analysis of financial results or financial statements are purely informative in nature and shall not be consider as any form of investment or any other sort of advice to buy / sell / hold any stock , units or any other financial instruments or advice to make any other form of decision whatsoever.

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