PetroVietnam Power Nhon Trach 2 Corporation has reported that its post-tax profit for the second quarter of 2018 rose 41 per cent year on year to VND269 billion (US$12 million).

The company recorded VND2 trillion in net revenue, a yearly growth of 13 per cent. However, its combined profit fell by VND140 billion to VND261 billion compared to the same period last year due to increasing gas prices as a input cost.

PetroVietnam Power Nhon Trach 2 reported its financial income increase almost seven-fold over last year’s figure to VND102 billion in the second quarter of 2018, including VND66.7 billion received from reviewing the exchange rate between the dong and foreign currencies.

After the first six months of 2018, the company posted VND4 trillion in revenue and VND504 billion in post-tax profit, fulfilling 58 per cent and 67 per cent of its full-year targets.

By July 1, the company’s total asset value stood at VND10 trillion, up by VND36 billion from the beginning of the year.

The company is listing on the HCM Stock Exchange as NT2, gaining 1.7 per cent to close Wednesday at VND26,800 per share. Its stock has been removed from the blue-chip VN30 Index. — VNS