Delta Corp stock falls over 2% ahead of Q1 earnings

Shares of Delta Corp fell over 2 per cent in early trade today ahead of the gaming and casino firm's Q1 earnings set to be announced today. Delta Corp stock, which forms part of ace investor Rakesh Jhunjhunwala's portfolio, hit an intraday low of Rs 177.05, down 2.16 per cent against the previous close of Rs 180.95 on BSE.

Jhunjhunwala held 1.15 crore shares or 4.30 per cent stake in the company, according to the shareholding pattern in the March quarter this year. His wife Rekha Jhunjhunwala separately held 3.18 per cent stake or 85 lakh shares in the company.

The small cap stock has fallen after four days of consecutive gain. Delta Corp stock trades higher than 5-day and 20-day moving averages but lower than 50-day, 100-day and 200-day moving averages.

The stock has fallen 5.85 per cent in one year and lost 30.69 per cent since the beginning of this year. Market cap of the gaming and entertainment firm fell to Rs 4,777.90 crore on BSE. Total 0.81 lakh shares of the firm changed hands amounting to a turnover of Rs 1.44 crore.

The stock hit a 52-week high of Rs 339.50 on April 6, 2022 and a 52-week low of Rs 162.10 on June 16, 2022.

In Q4 of last fiscal, the Goa-based firm reported over 16 per cent fall in net profit. The casino chain player reported a profit of Rs 48.11 crore in the last quarter compared to the profit of Rs 57.77 crore in the year-ago period.

Revenue climbed 3.30 per cent to Rs 218.32 crore in Q4 against Rs 211.34 crore in the corresponding quarter of the previous fiscal.

The board of the company recommended a final dividend of Rs. 1.25 per equity share. On an annual basis, net profit zoomed 378 per cent to Rs 66.99 crore for the fiscal ended March 2022 against a Rs 24.10 crore loss for the fiscal ended March 2021.

Sales rose 47 per cent to Rs 616.13 crore in the last fiscal against Rs 418.87 crore in March 2021 fiscal.

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