With the sudden appearance of 'other income', Ho Chi Minh City Lottery reported a profit increase of up to 34%

Lottery ticket vendors contribute greatly to the revenue and profits of lottery companies - Photo: PHUONG QUYEN

The recently announced 2024 financial report of Ho Chi Minh City Lottery One Member Co., Ltd. shows that both revenue and profit have grown positively.

Specifically, the total revenue of Ho Chi Minh City Lottery reached 12,865 billion VND, an increase of nearly 6% compared to the previous year. Of which, revenue from traditional lottery activities is still the main source of revenue, contributing the highest proportion with 12,539 billion VND.

Notably, last year, the company also recorded a sudden increase in "other income", up to 304 billion VND, 16 times higher than the same period last year.

According to the report's explanatory note, this other income mainly comes from the reversal of bonus risk provisions of VND 254 billion, while there was none in the same period in 2023.

According to regulations, lottery businesses use the prize risk reserve fund to pay prizes when the actual prize payout ratio during the period is greater than the planned prize payout ratio.

In case the bonus reserve fund is no longer sufficient to cover the expenses, the remaining actual bonus payment will be included in the business expenses.

If the remaining balance of the bonus risk reserve fund is not used up, it will be carried over to the following year.

Lottery businesses with a reserve fund balance for prize payouts set aside during the period exceeding the prescribed limit must refund it to other income.

Returning to the financial report of Ho Chi Minh City Lottery, another positive point is that most expenses such as finance, sales, and business management have decreased.

As a result, the company recorded pre-tax profit of VND2,229 billion, up 34% over the previous year and the highest ever.

Total assets of Ho Chi Minh City Lottery at the end of the year reached 3,323 billion VND, an increase of nearly 14% compared to the beginning of the year.

Of which, short-term assets account for a large proportion, with nearly 2,895 billion VND, mainly interest-bearing bank deposits. Notably, this company has no long-term or short-term debt.

This year, Ho Chi Minh City Lottery plans to have revenue of VND13,167 billion, and after-tax profit of VND1,405 billion, lower than in 2024.

BINH KHANH

Source: https://tuoitre.vn/xuat-hien-thu-nhap-khac-dot-bien-xo-so-kien-thiet-tp-hcm-bao-lai-tang-den-34-20250524162536317.htm