Recently Released First Quarter 2024 Financial Reports from Companies on April 20th
NSH Petro (PSH) disclosed its consolidated financial report for the first quarter of 2024, showing a significant 88% year-over-year decline in revenue, down to 476 billion VND. After expenses, the oil and gas company incurred a net loss of more than 29 billion VND, contrasting with the 199 billion VND profit earned during the same period in 2023.
LPBank (LPB) reported a remarkable 84% increase in pre-tax profit, reaching 2,886 billion VND in the first quarter.
VNDirect (VND) announced a substantial 334% surge in its pre-tax profit, amounting to 767 billion VND in the first quarter, primarily driven by a significant decrease in operating and financial expenses.
VPS Securities recorded a 15% growth in operating revenue for the first quarter, reaching 1,570 billion VND, with brokerage revenue surging by 134% to 961 billion VND. After deducting expenses, VPS achieved a pre-tax profit of 631 billion VND, representing a 332% increase.
SHS Securities (SHS) reported a 17% year-over-year decline in operating revenue, decreasing to 565 billion VND in the first quarter of 2024. This was primarily due to a 26% drop in income from FVTPL assets, down to 369 billion VND. However, a significant reduction in operating expenses led to a pre-tax profit of 444 billion VND for SHS Securities, almost nine times higher than in the first quarter of 2023.
Hau Giang Pharmaceutical (DHG) reported a 36% decrease in its pre-tax profit for the first quarter, down to 250 billion VND.
Phuoc Hoa Rubber (PHR) experienced a drastic 96% decline in pre-tax profit during the first quarter, earning only 12 billion VND compared to the 284 billion VND profit reported in the same period last year.
Phat Dat Real Estate Development (PDR) reported a 15.6% decline in revenue to 162.2 billion VND. However, due to approximately 34 billion VND from other income sources, the company declared a pre-tax profit of 76.3 billion VND, representing a 146% increase.
DAP – VINACHEM (DDV) disclosed its Q1 2024 financial statement, indicating a 5% year-over-year growth in net revenue, reaching 778 billion VND. After deducting expenses, the company recorded a 4,715% increase in pre-tax profit, amounting to 33 billion VND.
Nhon Trach 2 (NT2) experienced an 88% decline in revenue during the first quarter, down to 282 billion VND, and incurred a pre-tax loss of 158 billion VND. The company attributed this to a significant drop in electricity output, which reached 151.5 Tr.kWh in Q1 2024, compared to 1,074.8 Tr.kWh in the same period of 2023.
Several hydropower companies have also reported plummeting profits during the first quarter.
Companies that have released their first quarter 2024 financial reports:
