Technology provider DFNN Inc. chalked up a net profit of P51.32 million in the first three months, reversing the P10.39 million net loss year-on-year, as the company expanded its gaming footprint.
Including earnings attributable to minority interest, DFNN’s net profit stood at P53.1 million, a turnaround from the net loss of P9.3 million in the same period last year, based on the company’s regulatory filing.
“We are very pleased with our first quarter group-wide results. We aim to sustain this trajectory through the next quarter as we launch our sports betting exchange gaming platform,” DFNN chief executive officer Ramon Garcia said.
First quarter revenues surged by 359 percent year-on-year to P266.32 million for the period as the company reported increased adoption of its technology platform.
By end-March, the acceptance and utilization of the company’s electronic games platform environment resulted in over 6,500 terminals running in more than 200 gaming outlets throughout the Philippines.
Furthermore, DFNN reported that the transaction volume for its digital virtual games offering was also being adopted at an increased rate.
Moving forward, DFNN said it’s committed to “strengthening its technological expertise to deliver the best solution offerings, services, and support to its partners.”
The launch of DFNN’s sports betting exchange platform is expected within the coming weeks.