Pune-based Delta Corp turned profitable and posted a consolidated net profit at Rs 20 crore for the quarter ended June 30, 2016 (Q1FY17).
The company had posted a net loss of Rs 1 crore in the year ago quarter, it said in a filing to the Bombay Stock Exchange.
Total income from operations during the quarter under review increased by 35 per cent at Rs 109 crore against Rs 81 crore in the corresponding quarter of previous fiscal.
The company attributed the strong showing to better targeted marketing and getting on board the right customers, resulting in a stable income flow and increasing customer numbers.
Goa, where the bulk of Delta Corp’s operations lie, has become a year round destination rather than seasonal. This has boosted revenues and positively impacted profitability, it added.
The company said the income streams are steady and are bound to translate into greater revenue and growth in the months to come.
The floatel, Casino Deltin Caravella, operational in Goa, is expected to add to revenues and profitability, it added.
Meanwhile, shares of the company were trading at Rs 100.65 apiece, up 2.97 per cent from the previous close at 15:00 hours on BSE.