Delta Corp rises 5% on strong Q1 numbers

Shares of Delta Corp added 5 percent intraday Tuesday on the back of strong June quarter numbers.

The company Q1 net profit surged 52 percent to Rs 28.61 crore versus Rs 18.81 crore in the same quarter last fiscal.

Revenue rose 36.7 percent to Rs 109.91 crore versus Rs 80.36 crore.

The share touched its 52-week high Rs 401.30 and 52-week low Rs 157.95 on 23 January, 2018 and 11 August, 2017, respectively.

Currently, it is trading 40.94 percent below its 52-week high and 50.05 percent above its 52-week low.

The broking house Emkay Global has maintained buy rating on stock with a target of Rs 294 per share.

The research house expect FY20 earnings to rise 50 percent backed by revenue growth, also expecting revenue CAGR of 25 percent FY18-20E and margin expansion.

In the last 6 months the share price was down 39 percent.

At 09:32 hrs Delta Corp was quoting at Rs 237.95, up Rs 10.95, or 4.82 percent on the BSE.