Share price of Delta Corp Ltd, the gaming and casino company, declined over a percent on Tuesday after the company announced the reappointment of Ashish Kapadia as Managing Director of the company. The stock price fell as much as 1.47% to ₹244.60 apiece on the BSE.

In a regulatory filing, Delta Corp said that its board of directors approved the reappointment of Ashish Kapadia as Managing Director of the company for a period of five years commencing from April 27, 2024, and ending on April 26, 2029.

The reappointment would be subject to approval of shareholders at the ensuing Annual General Meeting (AGM), it said.

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Kapadia has been Managing Director of Delta Corp since April 2009.

“Under his leadership the company has grown manifold. He has significant experience across sectors such as gaming, hospitality, real estate, paints, textiles, financial services and civil aviation,” Delta Corp said.

In a separate exchange filing, Delta Corp also said that its board fixed July 7 as the record date for ascertaining entitlement for the payment of final dividend, if approved at the AGM.

The Board of Directors of the company, at its meeting held on April 11, 2023, had recommended a final dividend of ₹1.25 per share.

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For the quarter ended March 2023, Delta Corp posted a consolidated net profit of ₹51 crore, registering a rise of 6% YoY from ₹48 crore during the same period in 2022. The company’s revenue from operations rose 4% to ₹227 crore in Q4FY23 from ₹218 crore, YoY.

Delta Corp share price has risen nearly 40% in one year period. At 10:55 am, the shares of Delta Corp were trading 1.25% lower at ₹245.15 apiece on the BSE.

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Delta Corp board reappoints Ashish Kapadia as MD for 5 years; share price falls

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