India’s most prominent gaming and hospitality company Delta Corp. impressed with a massive gross revenue increase of 233% in the second quarter of 2022 compared to the second quarter of 2021.
Impressive Gross Revenue
Delta Corp. reported remarkable financial results for the quarter April-June 2022. The company’s gross revenue reached the astounding Rs 314.46 crore ($39.4 million), which was 16.5% higher than the quarter January-March 2022 and a tremendous 233% higher than the quarter April-June 2021.
The revenue increase was for all lines of business; however, the company’s casinos saw the most significant growth. The casino segment brought in Rs 250.72 crore ($31.4 million), an increase in comparison to the Rs 210.66 crore ($26.4 million) earned in the first quarter of 2022 and a significant boost compared to the Rs 41.43 crore ($5.2 million) the company collected in the second quarter of 2021.
The online skills games sector was responsible for earnings of Rs 43.83 crore ($5.5 million), while the hospitality sector brought in Rs 19.91 crore ($2.5 million) with a year-on-year boost of 103% and an 18.5% increase compared to the previous quarter.
It must be noted that the yearly gross revenue that Delta Corp announced for the financial year starting on April 1, 2021, and ending on March 31, 2022, amounted to Rs 765.2 crore ($100.5 million).
Delta Corp Posted Improved Profits as Well
In terms of profit, the company enjoyed growth as well. Delta Corp reported Rs 77.38 crore ($9.7 million), which was a 10.2% improvement on the results from the previous quarter and a considerable boost in comparison to the losses of Rs 35.22 crore (US$4.4 million) reported for the second quarter of 2021.
The impressive financial results of Delta Corp come just as India is on its way to recovering from the coronavirus pandemic. For a big part of 2021 Delta Corp’s casino venues were closed due to pandemic restrictions.
The financial results announcement also followed the reopening of Deltin Caravela, one of Delta Corp’s offshore casinos in Goa. The casino’s operations were stopped as per an order from The National Green Tribunal (NGT) after Delta Corp failed to acquire permission for the regulated coastal zone. However, the Supreme Court of India issued a stay order against NGT’s decision, allowing Deltin Caravela to resume operations in May.
Delta Corp is a major Indian corporation active in the hospitality and gaming industry. It is the owner and operator of India’s two biggest offshore casinos – Deltin Royale and Deltin JAQK, and it also runs India’s only floating hotel and casino – Deltin Caravela, which is also known as King Casino.