Delta Corps Q3 FY24-25 net profit up by 3.4% amidst GST challenges
Indias leading 바카라 operator, Delta Corp, has reported a strong performance in the third quarter that ended December 31, 2024, with gaming revenues rising by 3.4 percent year-on-year. This growth came despite ongoing legal challenges concerning the Goods and Services Tax (GST) on gaming companies, which the group continues to contest.
Gaming revenue powers Q3 performance
played a pivotal role in its quarterly success. Total gaming income rose to $20.93 million, marking a 2.4 percent increase from the previous quarter. This growth underscores the enduring popularity of the companys flagship offshore 바카라s, including Deltin Royale, Deltin JAQK, and Kings Casino in Goa.
However, online gaming operations faced headwinds. Revenue from skill-based online platforms, such as Adda52.com and Adda52rummy.com, dropped by 14 percent year-on-year and 6 percent quarter-on-quarter, settling at $4.54 million.
Strong profit margins despite GST pressure
Delta Corps profit for the quarter surged by 35 percent from the previous quarter to $4 million, despite being 3.5 percent lower than the same period in 2023. This growth reflects the companys resilience and ability to navigate operational challenges.
For the nine-month period ending 31 December 2024, the company reported total revenue of $88.9 million, a 26 percent annual increase. Gaming operations contributed significantly, with revenue surging by 22 percent to $73.84 million. Profit for the period more than doubled compared to 2022, reaching $19.86 million.
Navigating GST challenges
Delta Corp is embroiled in a legal battle over GST demands on gaming companies, a contentious issue impacting the industry. The company has filed writ petitions and obtained stay orders from High Courts, arguing that the tax demands are arbitrary and inconsistent with existing laws.
Expanding footprint and diversifying operations
With diversification in its portfolio, Delta Corp’s lead in the market is consolidated. The company operates some of the largest offshore 바카라s in India including Deltin Royale and Deltin JAQK and also owns Casino Deltin Denzong in Sikkim and Daman-based The Deltin that has a five-star rating and 176 rooms.
The company’s announcement in September to strategically separate its gaming business from its hospitality and real estate divisions is expected to help the company streamline operations and have a heightened focus on core areas.
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