Hydropower firm suffers loss of 3.15b dong in Q4 of 2010

The northern bourse-listed Nam My Hydropower Joint Stock Co (coded HJS) has lately released the financial reports in Q4 with net loss of 3.15 billion dong. Accumulatively, the company’s whole year profit was posted at 6.5 billion dong, declining by 38 percent against the previous year.

In Q4, HJS reported reaching revenue of 19.8 billion dong, up 104 percent year-on-year. However, the principal sales cost counted for 14 billion dong, resulting in combined profit of 5.76 billion dong.

In the last three months of 2010, the company’s financial cost increased to 8.15 billion dong but revenue of 1.4 billion dong only. Therefore, by the end of the quarter, the hydropower firm suffered loss of 3.15 billion dong.

For the whole year, the company reported gaining net revenue of 75.7 billion dong, surging by 36 percent over the previous year, but after tax profit of 6.5 billion dong, down 38 percent.

 

Category: Business