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Lottotech Q1 profit falls YOY

Lottotech Ltd. said its normalized net income for the first quarter came to 4 Mauritian cents per share, a decrease of 52.1% from 8 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 13.6 million rupees, a decrease of 52.1% from 28.4 million rupees in the prior-year period.

The normalized profit margin fell to 10.1% from 14.9% in the year-earlier period.

Total revenue decreased 29.5% on an annual basis to 134.9 million rupees from 191.2 million rupees, and total operating expenses fell 22.5% year over year to 114.2 million rupees from 147.4 million rupees.

Reported net income decreased 54.5% on an annual basis to 17.6 million rupees, or 5 cents per share, from 38.7 million rupees, or 11 cents per share.

As of May 6, US$1 was equivalent to 35.03 Mauritian rupees.