Delta Corp's shares saw a 4.23% increase on Thursday, hitting Rs 149 on the National Stock Exchange (NSE) following the disclosure of their Q2 results. The company reported a slight increase in revenue from the same period last year, reaching Rs 271 crore. The profit after tax (PAT) also showed a modest growth of 1.8%, amounting to Rs 69.5 crore.
According to InvestingPro data, Delta Corp has a market capitalization of Rs 38.53 billion and has been profitable over the last twelve months.
In addition to the financial results, Delta Corp announced new appointments within its management team. Anil Malani will assume the role of President and Chief Financial Officer (CFO), while Manoj Jain has been appointed as the Chief Operating Officer (COO) of the company.
Despite facing show-cause notices from GST authorities to the tune of Rs 16,823 crore, the company's management expressed optimism regarding a favorable resolution to the issue. This comes as part of Delta Corp's ongoing dialogue with tax authorities and does not seem to have significantly affected investor sentiment, as demonstrated by the recent rise in share prices.
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