**Mineral Resources of Bac Kan Joint Stock Company (BKC) Reports Positive Q3 2024 Financial Results with a Significant Increase in Revenue and Profit**
Mineral Resources of Bac Kan Joint Stock Company (coded: BKC) has announced its Q3 2024 financial statements, reporting impressive results. This quarter’s net revenue surged by 79% compared to the same period last year, reaching VND 166 billion. The slower growth in cost of goods sold led to a gross profit of VND 33 billion, more than five times higher than the previous year’s Q3, resulting in a gross profit margin of 70%—a significant improvement from the 7% achieved in Q3 2023.
Consequently, BKC’s after-tax profit soared to VND 19 billion, reflecting a remarkable growth of over 3,300% compared to the modest profit of nearly VND 600 million in the same period last year.
According to the company, zinc ore, a product that has been in production since Q4 2018, was sold this quarter amidst rising market prices for zinc metal. This factor significantly contributed to BKC’s exceptional profit growth.
For the first nine months of 2024, BKC’s net revenue and after-tax profit reached VND 329 billion (up 27%) and VND 23 billion (up 428%), respectively.
Mineral Resources of Bac Kan is currently focused on mineral exploration and processing in Bac Kan province and its neighboring regions. The company continues to pursue its strategy of investing in the deep processing of non-ferrous metals and rare precious metals.
As of September 30, 2024, BKC’s total assets stood at VND 420 billion, a 14% increase from the beginning of the year. Inventory accounted for VND 132 billion, and the company also held over VND 89 billion in cash. The undistributed after-tax profit as of the end of Q3 2024 reached VND 56 billion.
In the market, BKC’s stock price has been on a remarkable upward trend, with the last five trading sessions ending in the positive territory, including four sessions hitting the ceiling price. The share price quickly climbed to VND 9,300 per share, reflecting a 45% increase after just one week of trading.
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