Delta Corp tanks 16% as Supreme Court upholds retrospective 28% GST on gaming
Casino operator's stock hits Rs 68 low after apex court backs over Rs 1 lakh crore in retrospective tax demands on online gaming, with sector-wide exposure pegged at Rs 2.5 lakh crore. Q4 net profit collapsed 90% YoY to Rs 16.45 cr on revenue of Rs 161.25 cr (-11.72%). Nazara, OnMobile also in firing line.
What happened
Delta Corp shares plunged 16% after Supreme Court upheld retrospective 28% GST on online gaming, backing tax demands over Rs 1 lakh crore. The
Key facts
- 16.04% share drop
- Rs 68 low
- 28% GST
- Rs 1 lakh crore tax demand
- Rs 2.5 lakh crore sector impact
- Q4 net profit Rs 16.45 cr (-90% YoY)
- Revenue Rs 161.25 cr (-11.72% YoY)
Why this matters
The Supreme Court's retrospective GST validation reshapes M&A math across gaming assets—diligence must now quantify pre-2023 tax exposure as a balance-sheet item, and distressed-sale opportunities will likely emerge within two quarters.