Brazil's Caixa Econômica Federal Lotteries shared its financial results for the third quarter of the year. For the period that ended September 30, the business raised BRL 5.6 billion ($1.1 billion), the highest quarterly collection in history. The latest figures represent a 20.9% increase over the same period last year and a 4.6% increase over the last quarter. Aditionally, the Lottery posted a net income of BRL 3.2 billion ($598 million) during the quarter, up 75.9% from last quarter.
"The growth compared to 2Q, 2022, was possible due to the increase in service revenues and the improvement in the quality and solidity of the portfolio due to the institution’s consistent risk management, reaching 92.5% of the portfolio classified with the AA- risk level C, best index of the historical series," the Lottery noted.
The institution’s shareholders’ equity reached BRL 122.8 billion ($22.9 billion), an increase of 10.1% in the last 12 months. In agribusiness, CAIXA maintained strong growth in hiring during the period, with a growth of 204.4% compared to the same period in 2021, reaching a value of BRL 12.9 billion ($2.4 billion).
During the period, BRL 2.2 billion ($411.7 million), equivalent to 39.6% of the total, was allocated to the Federal Government’s social programs in the areas of social security, sports, culture, public security, education and health, an amount that was 22.6% higher than that allocated in the same period the prior year, in addition to income tax payments.
"The CAIXA Lotteries, in addition to feeding the dreams of millions of players, are an important source of funds to foster social development in Brazil," the group concluded.