VIP gains 25.7b dong after tax profit in Q1/2012

10-May-2012 Intellasia | STC | 8:36 AM Print This Post

Vipco Petroleum Transport Joint Stock Co (coded VIP) has released its fiscal statement in the first quarter of 2012 with 154 billion dong net revenue, down 13.5 percent over the same period last year.

Meanwhile, the original costs of goods for sale surged 2 percent to hit 119 billion dong. Therefore, its consolidated profit was only 35.3 billion dong, down 43 percent on year.

However, the company’s financial revenue surged sharply from 850 million dong in last Q1 to 21.5 billion dong.

According to its fiscal statement explanation, the company received 20.7 billion dong dividend and profit. In last Q1, the company did not have this income.

Its financial costs halved mainly thanks to the unperformed loss from the forex rate difference decreased from 24 billion dong to seven billion dong. Its management costs soared by 1.5 billion dong.

Thus, VIP’s pre tax profit was 27.3 billion dong, 2.2 fold increase against the same period last year.

It’s after tax profit was 25.7 billion dong, up 2.7 times on year.

In recent 11 trading sessions (as of May 2), VIP share gained points for 10 sessions, of which it hit the ceiling price for nine sessions. On May 2, VIP gained nearly 4 percent and the trading volume tripled against the average volume.


Category: Business

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