India's Delta Corp shines on higher qtrly profit

Delta

12/01/2022 04:20

** Casino operator's shares  DELT.NS  jump as much as 5.7%
to 299 rupees - touch highest level in nearly a month
    ** Delta Corp reported a multi-fold rise in its consolidated
net profit for the Dec-qtr to 703.8 million rupees ($9.54
million) vs 12.8 million rupees a yr ago  urn:newsml:reuters.com:*:nFWN2TR0QI
    ** Co's Dec-qtr consolidated net sales more than doubled to
2.47 billion rupees, helped by a revenue surge at its main
casino gaming division
    ** Delta's board gave approved appointment of advisors,
bankers to explore a potential IPO for its online gaming unit,
Gaussian Networks
    ** Co expects COVID-19 pandemic to not have any material
adverse impact on recoverable values of its financial and
non-financial assets and net worth
    * Delta is debt free and would have adequate liquidity
available to honour its liabilities and obligations, as and when
due
    ** DELT stock gained over 61% last year, and is up more than
12% YTD


($1 = 73.7505 Indian rupees)

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))