Best Ever Q1 Signals High-growth Start to FY 2016-17 for Delta Corp

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Mumbai, Maharashtra, India

Revenue at Rs 108.65 crore, up 34.6% compared to same quarter last year. Q-on-Q growth is 28%

Net profit after tax in Q1 2016-17 is Rs 20 crore, compared to a loss of Rs. 99.73 lakh in Q1 2015-16

Delta Corp has registered its best-ever quarter with a revenue of Rs 108.65 crore in Q1 2016-17. This is a growth of 34.6% over the same quarter in the last financial year.

The company attributed the strong showing to three factors:

Better targeted marketing and getting on board the right customers, resulting in a stable income flow

Increasing customer numbers

Goa, where the bulk of Delta Corp’s operations lie, has become a year-round destination rather than seasonal. This has boosted revenues and positively impacted profitability

After the board meeting, Delta Corp Chairman Jaydev Mody said: “The results are a source of great encouragement and stand testimony to the efforts and ingenuity of the Delta Corp team. Our businesses are gaining a strong foothold. The income streams are steady and are bound to translate into greater revenue and growth in the months to come. We are confident that this momentum will continue.”

Delta Corp is the largest and only listed company in the gaming and hospitality segment in India. It holds three of the six issued offshore gaming licences in Goa and has an integrated casino resort in Daman, with full benefits of the casino to accrue soon. The company also has three luxury hotel properties in Goa – Deltin Suites, Deltin Palms and Villa Marina by Deltin.

Delta Corp realised the synergistic advantage of gaming and hospitality early, and made hospitality an integral part of its growth strategy.

Hardik Dhebar, Delta Corp’s Group Chief Financial Officer, said: “The first quarter has demonstrated how the year will unfold. Historically, our second and third quarters have also been the most robust. This is enough indication of what is to come.”

Coming up for Delta Corp is a casino in Sikkim –Casino Deltin Denzong, for which a provisional licence has been obtained. The floatel, Casino Deltin Caravella, operational in Goa, is expected to add to revenues and profitability.