Delta Corp reports huge rise in profit in 16Q1

    India-based casino operator Delta Corp has reported that net profit jumped 3543.1 percent in the 16Q1 year on year.

    Net profit was Rs 28.3 crore in the quarter ended March 2016, compared to Rs 0.78 crore for the quarter ended March 2015, according to The Business Standard.

    Sales rose 17.6 percent year on year to Rs 102.68 crore, compared to Rs 87.35 crore in the corresponding quarter in 2015.

    For the full year ended March 2016, net profit was reported at Rs 42.58 crore, compared to a net loss of Rs 22.77 crore the year before. Sales rose 25.97 percent to Rs 377.86 crore in the full year ended March 2016 as against Rs 299.97 crore during the previous year.

    Currently, Delta Corp is engaged in two offshore casinos and one onshore casino in Goa, with one resort in Daman awaiting an onshore casino license.

    Earlier this month, multiple insider sources revealed Delta Corp was all set to operate a new casino in Sikkim sometime in the next two or three months.

    “The new development will likely consolidate its position as the market leader of the gaming industry,” said GLaws’ Jay Sayta.