Lottotech Ltd Sees Profit Increase to Rs 156.7M

Lottotech Ltd, the operator of the national lottery, has reported a slight increase in profits to Rs 156.7 million for the financial year ending on December 31, 2023, compared to Rs 154.1 million for the previous financial year. The company’s revenue has also increased to Rs 1.5 billion.

This increase in revenue is mainly attributed to the rise in sales of lottery tickets for the Loto Vert and the launch of Loto Plus in October 2023.

For the financial year 2023, the net cash generated from operating activities amounted to Rs 143.8 million, compared to Rs 311.1 million for the previous financial year.

This decrease can be explained by changes in the working capital, with payments being made to consolidated funds, NSF, and for corporation tax, as explained by the company’s management.

The net cash used for financing activities amounted to Rs 335.5 million, compared to Rs 143.7 million for the previous financial year.

This increase in cash used for financing activities is mainly due to higher dividends paid out and loan repayments.

Overall, Lottotech Ltd continues to show growth and profitability in its operations.

Source: Le Mauricien