India casino operator Delta Corp saw its Q3 profit rise 22.7 percent year-on-year to 59.04 crores, due mainly to a reduction in tax expenses.
The company owns a number of offshore and onshore casinos in India, and is the only listed casino operator in the country.
Revenue from its casino gaming division fell 1.3 percent year-on-year to 200.15 crore. Revenue from its hospitality division also fell 28.6 percent to 11.7 crore.
It however saw a slight increase in income from online skill gaming operations.
However, according to the results filing, the profit uptick was mainly due to 39.3 percent decrease in tax expenses in the quarter, down from 27.3 crore to 16.6 crore in 19Q3.
Earlier this year, industry experts said the slight drop and flattish revenues were mainly attributed to increased competition in Goa due to the entry of Big Daddy casino.
Delta Corp currently owns and operates casinos in India, in the states of Goa and Sikkim, offering approximately 1,800 gaming positions.