Petrolimex makes VND667 billion in after-tax profit in Q1

HCMC – The Vietnam National Petroleum Group (Petrolimex) earned VND667 billion in after-tax profit in the first quarter of 2023, up 51% over the same period last year.

Petrolime generated around VND 67.4 trillion in net revenue between January and March, slightly higher than the same period last year.

The financial income of the country’s leading fuel trading firm surged by 60% to VND513.7 billion thanks to interest from deposits, lending and exchange rate differences. Its financial expenses also rose by 27% to over VND382 billion.

Sales and management expenses, meanwhile, increased by 22% and 12% to above VND2.8 trillion and VND206.6 billion, respectively.

Among the after-tax profit of VND667 billion in the first quarter, the parent company alone earned VND619.7 billion, skyrocketing 155% year-on-year.

Petrolimex stock PLX closed the trading session today, May 4, unchanged from the session earlier at VND37,450, and reported a matching volume of 662,100 shares.

Regarding the stock market today, many bluechips fell into negative territory, sending the VN-Index of the Hochiminh Stock Exchange down 8.51 points, or 0.81%, from the session earlier, at 1,040.61. Losers outnumbered winners by 247 to 143.

Over 625.8 million shares valued at VND10.4 trillion changed hands, up 2% in both volume and value against the previous session. Shares traded in put-through transactions accounted for more than VND1.23 trillion of the overall value.

In the group of bluechips, VNM, CTG, and VCB lost over 2% at the close, piling pressure on the market.

Lender NVL took the lead by liquidity with some 28.4 million shares changing hands, followed by HPG and SSI with 16.5 million shares transacted each.

On the Hanoi bourse, the HNX-Index added 0.68 points, or 0.33%, over the session earlier, to 208.15 points, with 78 advancers and 94 decliners.

CEO, TIG, and IDJ closed the session at their ceiling prices. APS increased by 9.8% to VND14,500, with 6.14 million shares traded.

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