Key points:
- Q1 2025 revenue slipped by 2.14% year-on-year to INR1.96bn ($23.08m)
- Net profit rose sharply to INR164.6m, a 127% annual increase
- Company has made no provisions for disputed GST liabilities
Delta Corp has reported a slight fall in revenue for the first quarter of 2025, with figures showing a year-on-year decrease of 2.14%, bringing total revenue to INR1.96bn. This was despite a marginal increase in gaming income, which rose by 2.4% from the previous quarter to INR1.66bn.
The decline in overall revenue was offset by a marked improvement in profit. Net profit for the period reached INR164.6m, representing a 127% rise on the same period last year and a more than threefold increase from the previous quarter.
Delta Corp has not accounted for any potential liabilities related to the ongoing dispute concerning the Goods and Services Tax (GST) regime.
A number of gaming companies are currently challenging the retrospective application of GST on gaming activities, and Delta Corp indicated it would not make provisions until the matter is resolved.
The company operates several casino properties in India, including Deltin Royale and Deltin JAQK in Goa, as well as Casino Deltin Denzong in Sikkim.
It also manages online gaming platforms. In a move announced last year, Delta Corp is in the process of separating its gaming business from its hospitality and real estate divisions, in a bid to streamline operations and improve strategic focus.
While gaming revenue remained relatively stable, the company’s outlook remains subject to regulatory developments, particularly around taxation and licensing policy.
