Costa Crociere reported net income of 148.8 billion lire on revenues of 834.8 billion lire for its fiscal year ended Sept. 30, 1998, compared to net income of 84.2 billion lire on revenues of 821.6 billion lire in 1997.

Operating income was reported at 190.8 billion lire for 1998 compared to 148.0 billion lire in 1997.

According to a prepared statement from Costa, the increased profitability was the result of a rise in the average selling prices, the reduction in operating and financial costs, and improved ship occupancies.

Costa carried 278,324 passengers in 1998, for a total of 2,157,604 passenger days, compared to 280,426 passengers and 2,178,862 passenger days in 1997. The decline was attributed to the sale of the Costa Playa.

Costa's net margin was estimated at 18 percent and the operating margin at 23 percent.