In the first quarter of 2012, HNX-listed VNDirect Securities Joint Stock Co (coded VND) reported gaining after tax profit of 30.4 billion dong compared to the loss of over 42 billion dong in last Q1.
In the period, the broker’s revenue reached 62.4 billion dong, down about 25 percent on year. Its other revenue accounted for the biggest proportion with 43.78 billion dong but decreased 35 percent on year. Its revenue from securities brokerage was nearly 15 billion dong, growing over 21 percent on year.
The company reached about 3.46 billion dong revenue from securities self-trading activities, slipping slightly 4 percent on year and its revenue from other activities was only 180 million dong.
VND’s business operation costs decreased by 85 percent on year, to more than 16 billion dong. Therefore, its consolidated profit was 46.32 billion dong instead of the loss of 23.62 billion dong in Q1/2011.
Its corporate management costs also slipped 2.7 billion dong but still accounted for up to 16 billion dong. Hence, its pre tax and after tax profit was 30.4 billion dong while in Q1/2011 its loss was over 42.27 billion dong.
VND’s short term financial investment as of the end of Q1/2012 was quite big, with 533.7 billion dong, down nearly 40 billion dong from early this year. The company still maintained a spending of 230 billion dong for its provision fund; lower nearly five billion dong against early period. Of which, 169 billion dong was provision for listed shares, down 34 billion dong from early this year while the provision for unlisted shares increased 29 billion dong to 60.87 billion dong.
Till the end of Q1/2012, VND’s deposit at banks was 781 billion dong, two fold increase from early this year but actually the deposited money of investors accounted for 660 billion dong while the balance in early this year was only 273 billion dong.