Delta Corp shares fall 5% after Q1 profit decline 34% YoY

Segment-wise, revenue from the gaming operations declined 16% 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.

On a sequential basis, Delta Corp profit nearly halved from Rs 86.88 crore posted in the preceding quarter. Meanwhile, revenue increased from Rs 128 crore in the December quarter.

The company's board has approved the appointments of Tara Subramaniam and Pankaj Razdan as additional directors for a period of five years.

The board has fixed July 20 as the record date for ascertaining entitlement for the payment of the final dividend, if approved at the AGM. The company had earlier recommended a final dividend of Rs 1.25 per share.

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At 10:09 am, the scrip was trading 3.4% lower at Rs 138 on BSE. On a YTD basis, the stock has declined 9% and has plunged 43% in the past year.

In technical terms, the relative strength index (RSI) of the stock is currently at 64.8. An below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. Additionally, the MACD is at 3.7, which is above its center and signal line, this is a bullish indicator.

Moreover, the stock price is higher than the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day simple moving averages, further reinforcing the positive momentum.

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