Delta Corp Q3FY26 Results: Profit Declines Amidst GST Notices and Gaming Act Impact
Delta Corp reported Q3FY26 unaudited results with standalone profit after tax at ₹19.38 crore (down from ₹41.61 crore YoY) and consolidated profit after tax at ₹14.28 crore (down from ₹63.78 crore YoY). The company faces significant GST demands of ₹23,207.30 crore and impacts from the online gaming act, leading to ₹378.34 crore investment write-downs.
The large GST demands and the impact of the online gaming act are material events that significantly affect the company's financial health and future operations.
The company's financial performance has declined year-on-year, and it faces significant regulatory challenges including substantial GST demands and the impact of new gaming legislation, leading to write-downs.
Delta Corp Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results during a meeting held on January 15, 2026. The meeting commenced at 5:30 PM and concluded at 7:00 PM.
For the standalone entity, total income for the quarter ended December 31, 2025, was ₹121.24 crore, a decrease from ₹159.16 crore in the same period last year. Profit after tax for the quarter stood at ₹19.38 crore, down from ₹41.61 crore in the prior year's comparable quarter. The nine-month period saw total income at ₹396.08 crore, compared to ₹473.29 crore in the previous year, with profit after tax at ₹67.63 crore, down from ₹125.96 crore.
Consolidated figures show total income for the quarter at ₹167.68 crore, a decrease from ₹198.86 crore year-on-year. Profit after tax for the quarter was ₹14.28 crore, down from ₹63.78 crore. For the nine-month period, consolidated total income was ₹554.20 crore, compared to ₹589.99 crore, with profit after tax at ₹68.84 crore, down from ₹137.35 crore.
The company highlighted significant contingent liabilities related to show-cause notices for alleged GST short payments aggregating ₹23,207.30 crore for the period from July 1, 2017, to November 30, 2022. The company is contesting these demands, viewing them as arbitrary, and has obtained stay orders from respective High Courts. The matter is pending judgment in the Supreme Court.
Furthermore, the enactment of the Promotion and Regulation of Online Gaming Act, 2025, which prohibits real-money online gaming, has led to a cumulative reduction of ₹378.34 crore in the fair value of investments in certain online gaming entities on a standalone basis and ₹459.52 crore on a consolidated basis. These reductions were recorded through Other Comprehensive Income (OCI).
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