Delta Corp Shares Gain Over 4% After Q2 Profit Rise
The company’s net profit rose 1.7% year-on-year to Rs 69.4 crore in the quarter ended September, according to an exchange filing.
Shares of Delta Corp. rose over 4% on Thursday after its profit rose in the second quarter.
The company’s net profit rose 1.7% year-on-year to Rs 69.4 crore in the quarter ended September, according to an exchange filing.
Delta Corp. Q2 FY24 Highlights (YoY):
Revenue up 0.23% to Rs 270.6 crore.
Ebitda down 0.26% at Rs 100.1 crore.
Margin at 36.98% versus 37.16%.
Net profit up 1.74% to Rs 69.4 crore.
The company appointed Anil Malani as president and chief financial officer and Manoj Jain as chief operating officer on Wednesday.
Malani was Delta Corp.'s president of operations for the past 14 years and has been in charge of the group's casino and hospitality businesses. Jain has held various significant roles within the organisation since July 2008.
Shares of Delta Corp. rose as much as 4.23%, the most in a single day since July 26, before paring gains to trade 0.45% higher at 11:17 a.m. This compares to a 0.05% advance in the NSE Nifty 50.
The stock has fallen 32.57% on a year-to-date basis. Total traded volume so far in the day stood at 2.1 times its 30-day average. The relative strength index was at 30.72.
The lone analyst tracking the company maintains a 'buy' rating, according to Bloomberg data.
