Delta Corp, a popular Indian gaming and hospitality company and one of the most popular casinos in the country, reportedly broke the quarterly record with a revenue of Rs 338 crores, which is equivalent to $41.2 million. This revenue is reported for the first quarter of 2023.
The company also recorded a record-breaking profit in this quarter, marking a very successful period for one of the most popular Indian gaming companies.
Financial Details on Delta Corp’s Record-Breaking Quarter
As we said already, the reported revenue by Delta Corp is for the first quarter of 2023, but it is also the reported revenue for the second three months of the year because the company’s fiscal year starts on April 1st.
The total revenue reported from April 1st until June 30th is in the amount equivalent to 41.2 million US dollars, which is the absolute record for the company.
This revenue counts for all departments of the company, including the land-based and offshore casinos that the company owns and operates. Delta Copr earned Rs 277.65 crores ($33.8 million) in that department, which is a 10.7% increase compared to last year.
In addition to land-based casinos, the company’s online gaming department earned Rs 43.12 crores ($5.3 million), which is actually a bit lower compared to some of the previous quarters.
Finally, when it comes to hospitality, the company earned Rs 17.18 crores ($2.1 million), more than it earned the previous year.
The total profit Delta Corp earned in the last quarter was Rs 89.52 crores ($10.9 million), which represents a whopping 272% increase compared to the same period last year.
Delta Corps Representatives Are “Very Satisfied”
As expected, the company is very satisfied with the results and its representatives say that the company showed a “strong and resilient business with robust growth.”
According to Jaydev Mody, the company’s Chairman, the momentum set in the last fiscal year “was carried on with the first quarter giving us yet another milestone in the form of the highest revenue ever”.
However, despite these impressive results, Delta Corps is going through a tough period at the moment. The issues come from the new tax on gambling issued by the Indian GST Council. The imposed flat tax is set at 28%, and many Indian companies are struggling with it, including Delta Corp.
