Delta Corp Q3: Multi-fold rise in net profit; firm to explore IPO of online gaming biz

Delta Corp on Tuesday posted a consolidated net profit at Rs 70 crore for the quarter ending 31 December, 2021, a massive jump. The firm had posted a net profit of Rs 1 crore in the year-ago period.

The company's revenue rose 105 per cent to Rs 247 crore for the said quarter as against Rs 120 crore in the same quarter last year.

Delta Corp's board has also approved the appointment of advisors, bankers and other intermediaries by Gaussian Networks Private Limited (GNPL) (a wholly owned subsidiary of the company engaged in the online gaming business) to explore a potential public issue and listing of equity shares of GNPL (including by way of offer for sale of equity shares of GNPL held by the Company) to enable it to raise resources for expansion of its business and unlock value for the shareholders of the company, it said in a regulatory filing.

Shares of Delta Corp on Tuesday closed 0.86 per cent higher at Rs 282.70 apiece on BSE. The company's scrip has rallied 84.05 per cent in the past one year.