Homeearnings news

Q4 run rate same as Q3 but impacted by Omicron, elections: Delta Corp

earnings | IST

Q4 run rate same as Q3 but impacted by Omicron, elections: Delta Corp

Mini

In an interview with CNBC-TV18, Hardik Dhebar, Group CFO, Delta Corp, shed light on the Q4 earnings. He clarified that the run rate in Q4 remained the same as in Q3, but was marred by Omicron and elections. He mentioned that he is optimistic about the online business and expects it to grow from current levels.

Delta Corp posted its Q4 earnings. The company reported a 17 percent decline in consolidated net profit for the fourth quarter to Rs 48 crore as compared to Rs 58 crore in the corresponding period of last year. The company's sales rose marginally to Rs 218 crore for the March quarter under review compared to Rs 211 crore in the year-ago period.
To discuss the Q4 numbers, CNBC-TV18 spoke to Hardik Dhebar, Group CFO, Delta Corp.
Dhebar clarified that the run rate in Q4 has been the same as in Q3. However, elections and Omicron did have an impact. He explained that March saw a run rate similar to November and December levels. Also, April is seeing a run rate similar to that of March, he mentioned.
He said, “We had a couple of events not very favourable for the business perspective. The whole of January was a complete washout given the Omicron wave. As far as Goa is concerned, till February second week, the election code of conduct was in play, and for industrial businesses like ours, that matters a lot; this is because there were restrictions on timings in addition to the other restrictions that were already in play. So, a lot of these things do have an impact on the overall scenario as far as we are concerned.”
He expects online business to grow from the current levels. He shared that online business has been impacted by the high base. “We continue to believe that with our investment strategy and with our focus in the online space, we could see the numbers around these levels and going forward from here,” said Dhebar.
On Delta Tech’s listing, he said that he expects it to get done by the end of this year. He mentioned that bankers have already been appointed for the purpose and a draft red herring prospectus (DRHP) will be filed soon.
He said, “We are making our efforts and the whole game plan is to ensure that we give a dedicated focus and war chest to the online play to ensure growth, valuations and profitability in terms of numbers to be able to achieve that. Therefore, the war chest and the proposed IPO.”
Watch the video for the full interview.