PetroVietnam Construction Joint Stock Corp (coded PVX) has released the reviewed financial reports for the first three months of 2012.
In details, the corporation posted net revenue of 1.1 trillion dong, dropping by 56 percent against the same period last year. The principal sales price saw a similar decline as the net revenue, resulting in consolidated profit of 141.6 billion dong, down 51%.
The financial revenue reduced by 88 percent year-on-year to 24.56 billion dong, but financial costs surged 6 percent to 67.7 billion dong. After deducting the costs, the company earned profit from business activities of 7.16 billion dong.
Despite other profit of 4.2 billion dong, by the end of Q1, PVX posted profit of 7.5 billion dong, a year-on-year decrease of 96%, and fulfilling 0.6 percent of the targeted year plan.