Delta Corp shares fell 4% after company reported 16% fall in Q4 net profit

#Goa #Nifty #Omicron

Delta Corp's Q4 net profit fell 16.7% to Rs 48.1 crore from Rs 57.8 crore
The company's board has proposed a final dividend of Rs 1.25 per equity share
Delta Corp's stock has risen 25% in 2022, and 113% over the previous year

Written By:Yash

Updated: April 11 2022 07:36:02 PM ET

Delta Corp’s stock fell more than 4% to Rs 309.2 in early trading on April 12 after the company released its March quarter earnings.

Delta Corp’s Q4 net profit fell 16.7% to Rs 48.1 crore from Rs 57.8 crore, while revenue increased 3.3% to Rs 218.3 crore from Rs 211.3 crore year on year.

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EBITDA (earnings before interest, tax, depreciation, and amortisation) fell 12.8% year on year to Rs 69 crore from Rs 79.2 crore, with a margin of 31.6% vs 37.5%.

The company’s board has proposed a final dividend of Rs 1.25 per equity share, which would be paid within 30 days of the shareholders’ approval.

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The board reviewed and approved the proposed Scheme of Amalgamation of Daman Entertainment Private Limited and Daman Hospitality Private Limited with Delta Corp and their respective shareholders under Sections 230 to 232 and other applicable sections of the Companies Act, 2013.

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Despite closing operations for various periods due to the ongoing Covid situation, the company said it had generated strong financial results for the whole fiscal year.

“Further between January and February, due to the Omicron wave, there was a substantial decrease in visitation. In addition, Goa had the election code of conduct in place till 14 February 2022, which further restricted activity,” it said.

“The Q4 results have given a good closure to the year, at the same time, we are looking forward to a fantastic year ahead. The year has shown a steady and robust performance vis a vis the previous quarters and we expect full-fledged performance in the year ahead,” said Delta Corp Chairman Jaydev Mody.

On Monday, Delta Corp shares fell 1.66% to Rs 323 per share on the NSE. The stock has risen about 25% so far in 2022, and 113% over the previous year.