Rakesh Jhunjhunwala-backed Delta Corp’s Q2 loss narrows amid second-wave of covid; revenue jumps 95% YoY

Ace investor Rakesh Jhunjhunwala-backed Delta Corp’s consolidated net loss narrowed at Rs 22.6 crore in the second quarter of the financial year 2021-22 (Q2 FY22) amid the extended lockdown in the various parts of the country due to the second-wave of the covid.

The company that operates various gaming and casinos in the country had reported a loss of Rs 54.9 crore in the same quarter in the last financial year.

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On the other hand, the company’s consolidated revenue grew by 94.5 per cent to Rs 74.7 crore in the Q2 FY22 as against to Rs 38.4 crore in the corresponding quarter of FY21. Similarly, it reported consolidated EBITDA loss of Rs 19 crore versus loss of Rs 45.1 crore year-on-year.

During the current financial year, the consequent to the lockdown due to the second wave of pandemic announced by the state governments, the Group could operate only partially casinos and hotels and other recreational places in the country, Delta Corp said in a statement.

The Casinos at Goa was operational at 50% of normal capacity for a part of April 2021 and with effect from 20th September 2021 with restrictions except for King Casino, it said in statement.

Rakesh Jhunjhunwala, who is termed as the Big Bull of the Indian stock market, along with his wife Rekha jointly hold 20,000,000 shares, which comprises to 7.5 per cent stake worth over Rs 450 crore in the company, the latest shareholding pattern available of BSE shows. 

Besides Delta Corp, the ace investor also holds around 38 stocks publicly in his portfolio along with his wife and associates, these range from pharma to FMCG to auto.

The stock on Monday ended flat with negative bias to Rs 272.15 per share on the BSE. The counter in the last one month gained over 26 per cent while it had hit 52-week high of Rs 288.3 per share earlier this month on October 1, 2021.