India’s largest and only listed casino operator, Delta Corp, saw its stocks hit a record high of Rs 155 following the posting of its 16Q1 results, local media reports.
Stock surged 61 percent from Rs 96 after the company reported a consolidated net profit of Rs 20 crore for the quarter ended June 30, 2016, as compared to a net loss of Rs 1 crore in the prior-year period.
Delta Corp said the growth was attributed to better targeted marketing and bringing on the right customers, which resulted in a stable income flow and increased customer numbers.
Its offshore casino, Casino Deltin Caravella in Goa, is expected to further add revenues and profitability, it added.
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