The government, in October last year, imposed a 28 per cent tax on funds that online gaming companies collect from their customers for every bet. It had defended the move, citing concerns about addiction.
Delta Corp: Jain said post October 1, 2023, his company is supposed to pay 28 per cent GST, not on the GGR which it was paying but on the sale of chips which it is selling.
Delta Corp said the holding company carries goodwill, arising on consolidation amounting to Rs 355.33 crore in the consolidated financial results of the holding company, which was recognised in the earlier years.
"Delta has decided to make a strategic investment of Rs 99,99,88,000 in Peninsula Land (PLL), which will issue 1,50,00,000 equity shares and 77,27,000 CCDs at Rs 44/-. Furthermore, a joint venture is envisaged to be established between Delta & PLL with a capital outlay of Rs 250 crores, where Delta will be a majority stakeholder. This JV will help Delta expand into the sector," the company said in an exchange filing.
The company has posted an EBITDA of Rs 100 crore in the quarter under review, again flat compared with the last year period. EBITDA margins, meanwhile, were down 19 bps to 37%.