PV Power reports over 31.2 million USD in post-tax profit in Q1. (Photo: VNA)
PetroVietnam Power Corporation (PV Power) reported a post-tax profit of 720 billion VND (over 31.2 million USD) the first quarter of 2021, surpassing the quarterly plan by 6 percent.
Deputy Director of PV Power Nguyen Thi Ngoc Bich attributed the firm’s strong growth profit to its finance investment activities in the period, including the successful divestment of over 19.93 million shares at Petro Vietnam machinery-technology JSC (PV MACHINO), which generated a pre-tax profit of 350 billion VND.
Dividends worth about 170 billion VND that PV Power received from Nhon Trach 2 thermal power JSC also contributed significantly to its profit in the last three months.
However, PV Power’s electricity output reached 4.64 billion kWh in the reviewed period, equal to only 90 percent of the set plan for the first quarter, and 88 percent of the same period last year.
PV Power will closely work with the Electricity of Vietnam, the National Load Dispatch Centre (A0), the Vietnam National Coal and Mineral Industries Group (Vinacomin), and the PetroVietnam Gas Joint Stock Corporation (PV GAS) in operating its power plants, towards producing 5.923 billion kWh in the second quarter.
It also plans to pour investment into Nhon Trach 3 and 4 power plants in the coming time.
VietNamNews