India’s largest gaming and hospitality company, Delta Corp., impressed with a massive increase in gross revenue of 233% in Q2 2022 compared to Q2 2021.
Impressive gross income
Delta Corp. released remarkable financial results for the April to June quarter of 2022. The company’s gross revenue reached an astounding Rs 314.46 crore ($39.4 million) or 16.5% more than the January-March 2022 quarter and 233% more than the April-June 2021 quarter.
The revenue increase was across all lines of business; however, the company’s casinos have seen the greatest growth. The casino segment earned Rs 250.72 crore ($31.4 million), an increase from the Rs 210.66 crore ($26.4 million) earned in the first quarter of 2022 and a significant increase from the Rs 41.43 crore ($5.2 million) which the company raised in the second quarter of 2021.
The online skill games sector generated revenue of Rs 43.83 crore ($5.5 million), while the hospitality sector brought in Rs 19.91 crore ($2.5 million ) with a year-over-year increase of 103% and an increase of 18.5% from the prior quarter.
It should be noted that Delta Corp’s reported annual gross income for the financial year beginning April 1, 2021 and ending March 31, 2022 was Rs 765.2 crore ($100.5 million).
Delta Corp also reported improved earnings
In terms of profits, the company has also seen growth. Delta Corp brought in Rs 77.38 crore ($9.7 million), representing a 10.2% improvement over the previous quarter’s results and a considerable increase from losses of Rs 35.22 crore ( US$4.4 million) reported for the second quarter of 2021.
Delta Corp’s impressive financial results come just as India is poised to recover from the coronavirus pandemic. For much of 2021, Delta Corp casinos have been 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 halted pursuant to an order from the National Green Tribunal (NGT) after Delta Corp failed to obtain clearance for the coastal restricted area. 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 large India-based company engaged in the hospitality and gaming industry. It is the owner and operator of India’s two largest offshore casinos – Deltin Royale and Deltin JAQK, and it also runs India’s only floating hotel and casino – Deltin Caravela, also known as King Casino.