PV GAS’s after-tax profit hits nearly 300 million USD in 6 months
The Petrovietnam Gas Joint Stock Corporation (PV GAS) posted an after-tax profit of nearly 7 trillion VND (300 million USD) in the first six months of 2022, up 87% compared to the target and 59% year-on-year.
At the construction site of a project invested by PV GAS (Photo: VNA)
Hanoi (VNA) - The Petrovietnam Gas Joint Stock Corporation (PV GAS) posted an after-tax profit of nearly 7 trillion VND (300 million USD) in the first six months of 2022, up 87% compared to the target and 59% year-on-year.
Its before-tax profit reached over 8.67 trillion VND (over 371.3 million USD) in the January - June period, up 87 percent and 56 percent, respectively.
The firm produced and supplied over 1 million tonnes of liquefied petroleum gas (LPG) in the first two quarters of 2022, surpassing 23% of the plan and equal to 99% of that in the same period last year, accounting for about 70% of the wholesale market share of the country.
It also produced and supplied 56,800 tonnes of condensate, up 67% compared to the plan and 85% against the same period in 2021.
Although its production and business in the first six months faced many challenges due to geopolitical impacts from the Russia-Ukraine conflict and the disruption of global supply chain caused by China’s COVID-19 prevention and control policy, PV GAS's financial targets rose by 8-59% over the same period last year.
The firm’s total revenue hit 54.56 trillion VND, exceeding the target by 34%, and increasing 34% year-on-year.
PV GAS contributed over 3.6 trillion VND to the State budget in the period, up 70% compared to the set plan in the period and 8% year-on-year.
🌠 During this time, attention has been paid to construction investment activities, with progress of projects ensured. The disbursement value for investment activities reached 1.427 trillion VND./.
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At the construction site of a project invested by PV GAS (Photo: VNA) 
