Rakesh Jhunjhunwala share hits 52-week high after second quarter results
Delta Corp shares hit a new 52-week high at the start of trading today after the company reported a sharp reduction in losses in the July-September quarter.
Investor as Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala respectively held 1.15 crore of shares (4.31% of the capital) and 85 lakh (3.19%) of shares of Delta Corp, respectively, at the end of the June 2021 quarter.
Five mutual funds held 6.73% of the capital or 1.79 crore of shares of the company during the period, while 51 foreign portfolio investors (REITs) held 2.07 crore of shares or 7, 78% of the capital during the June quarter.
Delta Corp shares hit an intraday high of Rs 305.60, up 12.29% from the previous close of Rs 272.15 on BSE. The stock is trading above 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.
The stock rose 176.26% in one year and has gained 83.28% since the start of this year. It hit a 52-week low at Rs 103 on October 14, 2020.
A total of 10.32 lakh shares changed hands, representing a turnover of Rs 30.48 crore. The company’s market cap rose to Rs 7,885 crore on BSE.
Delta Corp announced a consolidated net loss of Rs 22 crore for the quarter ended in September against a loss of Rs 55 crore during the period last year (T2FY21). The company had reported a loss of Rs 29 crore for the quarter ended in June.
Net sales nearly doubled to Rs 74 crore in the second quarter from Rs 38 crore in the same quarter a year ago. However, net sales fell 1.5% from Rs 75.87 crore in the June quarter.
Income from gambling operations fell to Rs 40.05 crore from Rs 41.43 crore in the June quarter. Sales of hotels and other operations increased to Rs 12.53 crore from Rs 9.83 crore in the previous quarter.
Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at Rs 19 crore compared to a loss of Rs 45.1 crore over the past year.
Delta Corp is active in the entertainment and gaming, real estate, hospitality and aviation segments of the industry. The company operates its gaming and hospitality businesses under the DELTIN brand. It has three casinos in Goa, including Deltin Royale, Deltin JAQK and Deltin Caravela