India’s leading casino and online gaming operator Delta Corp has reported gross income from operations of Rs 218.31 crores (US$26.1 million) for the three months to 30 June 2024, down 21.5% year-on-year and 2.0% sequentially due to a decline in the company’s casino segment.
According to details filed on Thursday, income from gaming operations reached Rs 169.42 crores (US$20.3 million) in the March quarter, down from Rs 174.07 crores (US$20.8 million) in the December quarter and from Rs 226.84 crores (US$27.2 million) a year earlier.
Income from online skill games increased 4.2% compared to the previous quarter to Rs 36.55 crores (US$4.4 million) but from hospitality fell by 9.3% to Rs 12.34 crores (US$1.5 million).
Delta Corp’s profit for the period plummeted to Rs 21.68 crores (US$2.6 million), down from Rs 72.41 crores (US$8.7 million) in the March quarter and from Rs 67.91 crores (US$8.1 million) a year earlier.
The company continues to wait for a court decision on notices sent last year to three of its subsidiaries demanding back payment of Rs 11,439.49 crores (US$1.38 billion) for alleged short payment of GST.
Delta Corp reiterated the fact it and other impacted companies have all elevated Writ Petitions opposing such demands to the Supreme Court, noting that the claims are based on the gross bet value or face value of all games played at its casinos and online platform.
“Without prejudice, the company, based on a legal assessment, is of the view that all the above notices and the tax demands are arbitrary in nature and contrary to the provisions of law. The companies have challenged such tax demands and initiated necessary legal proceedings,” it said.
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