Vietlott deposits more than 1,000 billion VND in the bank

Vietnam Lottery Company (Vietnam Lottery) has just announced its audited financial report for 2023, recording positive business results.

Accordingly, the company recorded net revenue from sales and service provision reaching nearly VND 4,968 billion, up slightly by 0.18% compared to 2022, equivalent to an increase of VND 9 billion.

During the period, Vietlott's cost of goods sold was VND 4,699 billion, up 0.5% over the previous year, mainly consisting of prize payment expenses and prize payment reserves of VND 3,438 billion, up VND 8 billion compared to 2022.

In addition, Vietlott also gave nearly 503 billion VND for computerized lottery agent commissions and the cost of computerized lottery business was nearly 532 billion VND.

The cost of goods sold increased faster than revenue, causing Vietlott's gross profit to decrease from nearly VND284 billion last year to nearly VND269 billion. The company's business management expenses also increased from VND79 billion last year to nearly VND83 billion.

However, thanks to a 36% increase in financial revenue to VND64 billion, Vietlott's net profit from business activities only decreased slightly by VND1 billion compared to the previous year.

Vietlott also recorded a sharp 6-fold increase in other profits, from nearly VND 8.7 billion last year to VND 53 billion, so as a result, the company reported a profit after tax of nearly VND 243 billion, an increase of 16.8% compared to 2022.

As of December 31, 2023, Vietlott's total assets were recorded at nearly VND 1,279 billion, an increase of 9.7% compared to the beginning of the year, mainly short-term assets of VND 1,243 billion.

Of which, cash and cash equivalents increased by 9.6% over the previous year to nearly VND355 billion; short-term financial investments increased sharply from VND700 billion to VND771 billion (commercial bank deposits with original term of over 3 months and remaining term of no more than 12 months).

In addition, at the end of 2023, Vietlott also had deposits at commercial banks with original terms from 1 to less than 3 months of VND 310 billion and nearly VND 45 billion in demand deposits.

In total, the company has 1,126 billion VND in bank deposits. Thanks to the above deposits, in 2023 Vietlott will earn 64 billion VND in interest.

On the other side of the balance sheet, the total capital of the enterprise as of the end of 2023 is 1,279 billion VND, of which the debt is nearly 726 billion VND, accounting for 56.8%. The company's equity as of this date is nearly 553 billion VND, an increase of 6% compared to the beginning of the year .

Source: https://www.nguoiduatin.vn/vietlott-dem-hon-1000-ty-dong-gui-ngan-hang-a669793.html