Delta clocks over 300 percent profit growth

Delta Corp posted more than a 300 percent increase in net profit for the third quarter of FY18, reaching Rs. 44.7 crore (US$7 million), according to the latest figures.

Total revenue grew 56.6 percent year-on-year to Rs 162.2 crore, while the company’s EBITDA rose a total of 119.5 percent to Rs. 68.7 crore.

This was the first full quarter that included revenues from Gaussian Networks Pvt Ltd, operator of Adda52 - which merged with Delta Corp in July.

Adda52 is a market leader in the online poker space, giving Delta Corp an instant leadership position in the online poker space in India.

Revenue from its online gaming operations rose to Rs. 28.4 crore in Q3, compared to Rs.24.1 in the previous quarter.

Shares in Delta Corp grew more than 6.5 percent intraday on Tuesday, according to

More news from this jurisdiction

IndiaThursday, Feb 08, 2018

India’s lottery market has the potential to be at least four times its current size if more states were to legalize sales and the industry presented more appealing content, says Kamlesh Vijay, group CEO for Sugal & Damani, one of the country’s largest lottery companies.

IndiaMonday, Jan 29, 2018

The government of Maharashtra has initiated a process to recover more than Rs. 933 crores (US$142 million) in taxes from the lotteries of Arunachal Pradesh, Sikkim and Mizoram, which are sold within the state.

IndiaMonday, Jan 29, 2018

AGTech Holdings has announced the launch of a new casual gaming and shopping platform in India, called the Gamepind Platform.

IndiaMonday, Jan 22, 2018

The Maharashtra government is looking to shift its paper lottery to online in order to earn more revenue.

IndiaFriday, Jan 19, 2018

Goa could become a US$1 billion market once it transitions to a land-based market, said analyst Grant Govertsen in a note on Friday.

IndiaWednesday, Jan 17, 2018

The All India Federation of Lotteries Trade and Allied Industries has issued a public appeal for the reduction of GST on state-authorized lotteries.

IndiaMonday, Jan 15, 2018

The Law Commission of India is another step closer to finalizing its recommendations on the legalization of online betting.