Nhon Trach 2 company posts high Q3 profit

Wednesday, Oct 19, 2016 12:51

Nhon Trach 2 Power Plant. — Photo pve.vn

HA NOI (Biz Hub) — Nhon Trach 2 Power Joint Stock Company (NT2) in southern Dong Nai Province reported an impressive after-tax profit of VND164.7 billion (US$7.35 million) in this year's third quarter.

The profit is up 1.38 times against the same period last year.

In its Q3 financial report, the company also posted a turnover of more than VND1.525 trillion in Q3, up 19 per cent year-on-year.

With the Q3 results, the company's after-tax profit in the first nine months rose 24 per cent year-on-year to VND860.1 billion.

In the first nine months, the company produced 4.025 billion kWh for the national grid. The company is estimated to produce some 1.35 billion kWh for the national grid in the last quarter of the year.

The company is also scrutinising and upgrading legal regulations related to the power industry to be able to take part in the competitive power generation market next time.

The company's power output this year is estimated at 5.5 billion kWh, generating VND1.25 trillion, up one per cent and 9.5 per cent from the previous year, respectively.

The company has made a proposal to PetroVietnam to build two more power plants -- Nhon Trach 3 and 4. Each would produce 750-800 MW, at a combined construction cost of more than $700 million.

The Nhon Trach 2 company was listed among the top 50 enterprises with the best annual reports and among the top 30 of the VN HOSE index (HCM Stock Exchange), with a growth rate of 70 per cent following two years of public listing. — VNS

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