Delta Corp Reports Flat Revenues, Lower EBIDTA, 9% jump in Net Profit

Listed online gaming and casiౠno company for the third quarter of financial y🌞ear 2019-20.

The company declared that its consolidated net revenues for the period October-December 2019 was Rs. 205.13 crores, which was roughly the same as the revenues it earned for quarter three last year.

Delta’s ꧙EBIDTA however declined to Rs. 73.52 crores against Rs. 80.98 crores for the same quarter last year and Rs. 75.47 crores for the September 2019 quarter🍰.

The company’s EBIDTA margꦓin also fell sharply by 320 basis points from 41.7% for Q3 last year to 3⛄8.7% this year.

Despite the flattish revenues and reduction in margins, the cꦰompany’s net profit increased by 9% year-on-year to Rs. 54.90 crores, largely on the back of increased other income and reduced corporate tax liability.

Delta’s wholly owneℱd online gaming subsidiary, Adda52, reported total gross revenue of Rs. 40.29 crores for the quarter, against Rs. 37.05 crore for the sam💮e quarter last year, representing approximately 8% year-on-year increase.

Last week, the company had announced that its Nepal subsidiary, Deltin Nepal Private Limited had received a gaming license to operate a casino at the Marriott Hotel in Kathmandu, pursuant to a lease agreement signed with the hotel owners, Everest Hospitality and Hotels Private Limited. Delta Corp has expressed its intention to start casino op༺erations in the five-star property shortly.