the payment company Heaven saw its profit more than double in the third quarter, benefiting from revenue growth in more profitable segments, which increased at a rate far faster than total expenses.
The company controlled by Bradesco and Banco do Brasil, announced on Wednesday (3) that it had net income of R$211.9 million from July to September, an increase of 111.1% over a year earlier.
“The result benefited from the growth in the volumes captured and the expansion of the anticipation of receivables”, stated the Heaven in the results report.
In addition, the result of the Cateno division, of Banco do Brasil credit cards, grew 128%, benefiting from the reimbursement of expenses related to the Ourocard payment arrangement.
The volume of payments processed by Heaven in the quarter it grew 8.5% year-on-year, boosting net revenue, which grew 4.4%, to R$3 billion.
At the other end, total expenditures dropped 3.9% to R$2.6 billion.
With this, the operating result measured by earnings before taxes, interest, depreciation and amortization (Ebitda) totaled 692.8 million reais, a jump of 44.3%, with the Ebitda margin advancing 6.4 percentage points, to 23 %.
Reference: CNN Brasil
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