India's Delta Corp drops on quarterly profit fall

Delta

10/01/2024 04:52

** Shares of casino and gaming co Delta Corp  DELT.NS  fall
as much as 5% to 143.10 rupees 
    ** Co reports a 59.4% fall in Dec-qtr net profit to 344.8
mln rupees ($4.15 mln) Y/Y, its first profit fall after rising
for previous two quarters 
    ** Rev from key gaming ops segment fell 18.2%, smaller
online skills gaming ops segment rev fell 9.1%
    ** Stock on track for first weekly decline after four
straight weeks of gains
    ** DELT trading below its 200-day simple moving avg since
July 12, 2023 after tax authorities imposed 28% tax on gaming
and casino cos 
    ** DELT last down 2.4%; stock fell 31.4% in 2023


($1 = 83.1675 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))