Indian online and cruise gambling firm net profits soar 300 percent

The Indian-based Delta Corporation has delighted investors with a 300 percent growth to Rs. 44.7 crore (US$7 million) in net profit during its fiscal third quarter.

Delta operates land casinos and gambling cruises and added online gambling to its interests in July last year when it took over Gaussian Networks Pvt Ltd, operator of online poker operator Adda52 (see previous reports).

This was the first quarter to include online revenue from the acquisition, boosting Delta’s existing online gaming operations to Rs. 28.4 crore in Q3, compared to Rs.24.1 in the previous quarter.

Total group revenue grew 56.6 percent year-on-year to Rs 162.2 crore, whilst EBITDA rose a total of 119.5 percent to Rs. 68.7 crore, and after-tax profit rose to Rs447 million.

Shares in Delta Corp grew 7 percent intraday on Tuesday as investors showed their appreciation.