Delta Corp recorded a consolidated net loss of INR 1.06 billion for the three months ended September 30, marking a second consecutive quarterly deficit. The result was shaped by an exceptional provision tied to India's goods and services tax disputes as operating revenue also weakened.
The casino operator booked an additional INR 1.37 billion GST provision during the quarter. The charge brought provisions for the first half of its financial year to roughly INR 4.44 billion, including interest, according to reporting based on the October 19 results.
Revenue from operations fell 12.8% from a year earlier to INR 1.59 billion. Casino gaming generated INR 1.51 billion, down 13.4%, while segment profit slipped to INR 266.7 million. The company remained profitable before exceptional items and tax, with INR 215.7 million for that measure.
Quarterly EBITDA declined 28.8% to INR 284 million and the margin narrowed to 17.9% from 21.8%. The weaker comparison was also affected by King Casino remaining closed while Delta Corp prepared a replacement vessel.
The latest loss was smaller than the INR 2.12 billion deficit reported for the June quarter. SiGMA's review of the filing put the September loss at about $11.2 million. Currency conversions are approximate, while the rupee figures come from the reported accounts.
