PV Power’s first-half post-tax profit nears $50 million

PV Power’s first-half post-tax profit nears $50 million

HÀ NỘI — PetroVietnam Power Corporation (PV Power) reported post-tax profit of VNĐ 一. 一 五 九 trillion (over US$ 四 九. 五 六 million) in the first six months of this year, surpassing the target set for the entire year by  五 六 per cent.

This year, PV Power's profit plan has been adjusted down from its previously announced level.

Therefore, its first-half post-tax profit, despite representing an annual decrease of  一 九 per cent, still exceeded the yearly goal.

Also in the period, its electricity output reached  七. 一 billion kWh, reducing by  二 五 per cent year-on-year.

Nguyễn Đình Thi, head of PV Power's economic planning department, said that with such output decrease, the company’s revenue amounted to VNĐ 一 四. 八 六 五 trillion, equaling  六 一. 三 per cent of the yearly plan but down five per cent compared to the same previous last year.

Meanwhile, mobilised electricity prices in the first half increased sharply, even hitting VNĐ 二,000 per kWh sometimes.

In the last six months, PV Power is projected to face difficulties such as a recession of the world economy, an unfavourable rainy hydrological situation, and a series of overhauled factories, including the Cà Mau  一, Đakrinh and Nhơn Trạch  一. — VNS