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Lottotech Q3 profit climbs 63.8% YOY

Lottotech Ltd. said its normalized net income for the third quarter was 4 Mauritian cents per share, an increase of 55.6% from 3 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.9 million rupees, an increase of 63.8% from 7.9 million rupees in the prior-year period.

The normalized profit margin increased to 13.4% from 7.9% in the year-earlier period.

Total revenue declined year over year to 96.5 million rupees from 99.8 million rupees, and total operating expenses decreased 13.0% on an annual basis to 75.9 million rupees from 87.2 million rupees.

Reported net income increased 31.6% on an annual basis to 15.7 million rupees, or 5 cents per share, from 11.9 million rupees, or 4 cents per share.

As of Nov. 7, US$1 was equivalent to 35.78 Mauritian rupees.