DELTA CORP Q1 UPDATE
Delta Corp shares fall 5% after Q1 profit decline 34% YoY
Delta Corp Q1 FY24 profit fell 34% to Rs 40.48 crore; gaming revenue decreased 16% YoY to Rs 130 crore and hospitality to Rs 12 crore.
Delta Corp Q1 Results: Profit falls 34% YoY to Rs 40.48 crore
Delta Corp Q1 Results: Revenue from operations in the reporting period dropped 16% year-on-year to Rs 143 crore. Segment-wise, revenue from the gaming operations declined 16% year-on-year to Rs 130 crore for the quarter ended June. Meanwhile, hospitality revenues, too, were down to Rs 12 crore from Rs 14.91 crore in the last year period.
Pankaj Pandey on 2 sectors that are likely to see strong Q1 earnings
Raymond specifically, we do not have a coverage. But I think you have very few stocks which can be bought at current levels in real estate given the price appreciation a lot of these stocks have seen. So, some bit of a time correction or price correction is what we are waiting for.
Amazon Pay India top up; GST summons for egaming firms
Amazon has pumped Rs 600 crore in its local fintech unit Amazon Pay India. This and more today’s ETtech Top 5.
Hero MotoCorp Q4 Results: PAT jumps 18% YoY to Rs 1,016 crore; dividend declared at Rs 40 per share
Hero MotoCorp Q4 Results: The company had reported a profit of Rs 858.93 crore in the year-ago period. The PAT was broadly in line with the Street's estimates of Rs 1,026 crore. This was also its highest-ever revenue and profit after tax (PAT) for any financial year.
Bank of America Q1 Results: Profits fall 18% on higher expenses, charge-offs
Bank of America's first-quarter profits decreased due to higher expenses related to rising interest rates, surpassing expectations. The bank made a $700 million payment to the FDIC to support the deposit insurance fund, impacting its earnings.
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GIFT Nifty down 200 points; here's the trading setup for today's session
"Going ahead Nifty is expected to remain in the broader range given the lack of positive triggers globally and mixed set of domestic Q3 earnings which too is unable to provide any support," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
Oil India Q3 Results: Net profit falls 9% YoY on lower crude prices
Last year, the government also reduced the prices of gas produced from old blocks to $6.50 per million British thermal units (mmBtu) from $8.57 per mmBtu, squeezing the realisation of ONGC and Oil India, which together operate old fields responsible for about 80% of India's annual gas output.
GIFT Nifty up 45 points; here's the trading setup for today's session
"Global cues are muted as most of the Asian markets are closed for this week on account of Lunar New Year holidays, which kept global investors on side-line. Overall we expect the market to consolidate with negative bias in the near term," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
LIC Q3 Results: Profit zooms 49% YoY to Rs 9,444 crore; dividend declared at Rs 4/share
LIC Q3 Results: The net premium income for the third quarter rose 5% year-on-year to Rs 1.17 lakh crore, compared with Rs 1.11 lakh crore in the corresponding quarter of previous year. First year premium for the reporting quarter fell 13% to Rs 8,429 crore. It was Rs 9,725 crore a year ago. Income from investments jumped 12% year-on-year to Rs 95,267 crore.
Hero MotoCorp Q3 Preview: PAT to see double-digit growth YoY on all-round show
The double-digit growth in volumes is expected mainly due to a healthy recovery in the domestic market, while discounts during the festival season restricted realisations’ growth to 2% YoY, analysts said.
Pre-market action: Here's the trade setup for today's session
"On the domestic front, the market would look at quarterly results for stock-specific action and we expect indices to consolidate after a sharp sell-off," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
Pre-market action: Here's the trade setup for today's session
Foreign portfolio investors remain net buyers at Rs 656 crore on Tuesday. DIIs sold shares worth Rs 369 crore.
GIFT Nifty up 60 points; here's the trading setup for today's session
The rupee strengthened for the eighth consecutive session to settle with a gain of 6 paise to 82.95 against the US dollar on Friday, buoyed by a rally in domestic equity markets.
Delta Corp shares plunge over 5% on weak Q3 earnings
This is the sixth straight session where Delta Corp stock has recorded a fall. The price correction was amid significant volumes with more than 43.76 lakh shares changing hands on the NSE around 9:30 am.
Delta Corp says Rs 23,200 crore-GST demand arbitrary
Delta Corp, an online gaming and casino firm, contested a GST demand of over Rs 23,200 crore, deeming it arbitrary and contrary to laws, hence not provisioning for it. Their Q3FY24 reported a 59% decrease in net profit at Rs 34.48 crore, with a reduced income from operations at Rs 181.54 crore. Show cause notices from tax authorities alleging GST short payments led to legal action by Delta Corp and its subsidiaries, securing stay orders from High Courts.
Container Corporation of India Q2 Results: Net profit rises 21% to Rs 368 crore
The company's total income rose to Rs 2,299.78 crore from Rs 2,029.74 crore a year ago. Its expenses were at Rs 1,818.02 crore as against Rs 1,634.07 crore in the July-September period a year ago. The board declared an interim dividend of Rs 3 per equity share of face value of Rs 5 each, amounting to Rs 182.79 crore for 2023-24.
Hero MotoCorp Q2 Results: PAT surges 47% YoY to Rs 1,054 crore, beats estimates
Revenue from operations increased 4% on year to Rs Rs 9445.42 crore, and was also above the estimated Rs 9,209 crore. Earnings before interest, taxes, depreciation and amortization or EBITDA for the quarter increased by 28% on year to Rs 1,328.29 crore. This was likely aided by easing input costs, price hikes, and a favourable product mix.
IOC Q2 Results: Firm reports profit of Rs 12,967 crore, announces Rs 5 dividend
IOC Q2 Results: Revenue from operations fell 11% to Rs 2.02 lakh crore in the reporting quarter, compared with Rs 2.28 lakh crore in the same quarter of last year. The average gross refining margins (GRM) for the period April- September period stood at $13.12 per bbl, down from $25.49 per bbl in the same period last year.
Foreign investors BofA, Societe Generale sell stakes in Delta Corp via open market
Earlier during the day, the stock tumbled as much as 9% before closing 8% lower over the previous day. The shares have been under pressure since the last one month after the company and its subsidiaries received several GST notices. On Friday, the company's arm Deltatech Gaming received a GST shortfall notice worth Rs 6,384 crore.
Q2 results this week: TCS, Infosys, HCL Tech, Avenue Supermarts, Delta Corp and others
Other than TCS, National Standard (India), Signatureglobal (India), Delta Corp, Samhi Hotels, Zaggle Prepaid Ocean Services, Plastiblends India, Justride Enterprises, and Sanathnagar Enterprises will also announce their Q2 results on October 11.
Ashish Kacholia sells 0.56% stake in Delta Corp through bulk deal
It is unclear how much Kacholia held prior to the stake sale in Delta Corp. It will most likely be below 1%. The stake sale comes after the casino operator received a notice from the government for a tax liability.
Hero MotoCorp Q1 Results: Net profit rises 32% YoY to Rs 825 crore but misses estimates
Kotak Institutional Equities had expected net profit to grow 40.3% to Rs 875.90 crore and revenues to increase 7% led by a 10% increase in average selling price (ASP) due to price increases and a richer product mix.
Hero MotoCorp Q1 Preview: PAT may surge 42% YoY; price hikes to aid sales growth
In the June quarter, total vehicle sales declined 3% YoY, but grew 7% sequentially. Domestic sales were marginally down by 0.8% on a YoY basis while exports slumped 43%
Hardik Dhebar resigns as Chief Financial Officer of Delta Corp Ltd
Hardik Dhebar, the CFO of Delta Corp Ltd, has resigned from his position after 15 years with the casino company, due to professional challenges and career goals. Dhebar's resignation will come into effect on August 16th, 2023, and the Board of Directors will find a replacement to ensure continuity in the company's operations. Delta Corp Ltd reported a 19% increase in Q1 FY24 profit due to higher demand for casino gaming.
Delta Corp shares tank 8% after GST Council retained 28% tax on casinos
The Council, chaired by Sitharaman and comprising state ministers, in its last meeting on July 11 approved levying a 28% tax on the full face value of bets in online gaming, casinos and horse racing.
Delta Corp Q1 Results: Net profit rises 19% YoY to Rs 679.1 mn on sustained casino demand
Growing revenue offset total expenses for the quarter, which inched up 9% to 1.95 billion rupees, with licence fees and registration charges rising more than 7%.
Mukul Agrawal picks up 1.04% stake in Suzlon Energy
The stock has been in great momentum this week gaining more than 11% over the five trading sessions, significantly outperforming the S&P BSE Sensex which has given 0.94% returns during this time.
Sensex rises 100 points ahead of key Q1 earnings; Nifty above 19,450
IT giants TCS and HCL Tech are scheduled to announce their June quarter numbers post-market hours. Investors would also be tracking the CPI number for June which is due today.
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